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DAX Inches Higher On Earnings Optimism

German stocks rose on Monday as investors looked ahead to the upcoming earnings season for signs of an economic recovery from the coronavirus-induced downturn.

Investors also remain hopeful that the EU 27 will make progress in agreeing a 750 billion euro ($848.78 billion) Covid-19 recovery fund.

The benchmark DAX climbed 91 points, or 0.72 percent, to 12,724 after rallying 1.2 percent on Friday.

Banks Commerzbank and Deutsche Bank were moving lower while automakers BMW, Daimler and Volkswagen were modestly higher.

Fraport AG rose about 1 percent after unveiling June passenger traffic figures.

In economic releases, Germany's wholesale prices continued to fall in June, but the pace of decline slowed, data from Destatis revealed.

Wholesale prices dropped 3.3 percent annually in June after easing 4.3 percent in May. This was the fifth consecutive decrease in prices.

On a monthly basis, wholesale prices advanced 0.6 percent in June, offsetting a 0.6 percent fall in May. Prices climbed for the first time since February.

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