DAX Inches Higher On Economic Optimism

German stocks advanced on Monday as German retail sales data for March beat forecasts, boosting hopes of a rapid economic recovery.

German retail sales grew by a real 7.7 percent on a monthly basis in March, Destatis reported. That was faster than the 2.7 percent increase in February and 3 percent rise economists had forecast.

On a yearly basis, retail sales rebounded 11 percent, reversing a 6.6 percent fall in the previous month and confounding expectations for a decrease of 0.3 percent.

The benchmark DAX climbed 84 points, or 0.6 percent, to 15,220 after closing 0.1 percent lower on Friday.

Medical technology company Siemens Healthineers gained about 2 percent. The company reported that its second-quarter net income grew 8 percent to 447 million euros from last year's 414 million euros.

The company has again raised outlook for fiscal 2021 based on continued strong business development in the second quarter and the transformative merger with Varian.

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