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DAX Rises After US-China Trade Deal

German stocks advanced on Thursday after the United States and China signed a trade truce, helping ease investors' concerns of further escalation in the costly conflict.

Some questions still remain over whether President Donald Trump's efforts to rewrite the economic relationship with Beijing will ever go any further.

The benchmark DAX was up 51 points, or 0.38 percent, at 13,483 after declining 0.2 percent in the previous session.

Automakers were subdued, with Volkswagen shares falling more than 1 percent.

Europe's passenger car demand increased for the fourth straight month to log the highest December total on record, data from the European Automobile Manufacturers' Association revealed today.

Passenger car sales surged 21.7 percent from last year, but this was partially due to low base effect, as registrations decreased 8.4 percent in December 2018. Sales totaled 1.21 million units.

The agency said specific market changes also contributed to the exceptional growth in December.

Meal-kit delivery company HelloFresh soared 8.5 percent after its preliminary 2019 results topped forecasts.

Bayer was marginally higher. WuXi Biologics Germany GmbH will take over the operations of one of Bayer's final drug product manufacturing plants in Leverkusen, Germany, and purchase the associated equipment, in combination with a long-term lease contract for the building.

Evotec SE, a drug discovery alliance and development partnership company, rallied 2.3 percent. The company announced that its Seattle-based subsidiary Just - Evotec Biologics, Inc. has established a collaborative relationship with OncoResponse, Inc., an immuno-oncology focused biotech company.

Nivea maker Beiersdorf fell over 1 percent after reporting its fiscal 2019 results.

In economic releases, Germany's consumer price index rose 1.5 percent year-on-year in December, following a 1.1 percent increase in November and October, final data from the Federal Statistical Office showed. This was in line with initial estimate.

The latest inflation was the highest since July, when it was 1.7 percent.

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