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DAX Rises Ahead Of ECB Decision

German stocks rose on Thursday as investors hoped for more economic stimulus from the newly inaugurated administration and looked ahead to the European Central Bank's latest policy announcement.

The central bank is expected to keep its policy rates and stimulus package unchanged after unveiling a slew of measures at the December meeting. The announcement is due at 7.45 am ET.

ECB President Christine Lagarde is set to hold the customary press conference at 8.30 am ET.

On the Covid-19 front, Germany has seen a significant drop in its seven-day coronavirus incidence rate, the Robert Koch Institute (RKI) for disease prevention said today.

The benchmark DAX edged up 70 points, or half a percent, to 13,992 after gaining 0.8 percent the previous day.

Automakers and banks were among the prominent gainers. Daimler rallied 1.7 percent and Deutsche Bank rose 0.7 percent.

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