DAX Rises On Economic Optimism

German stocks advanced on Friday, a day after the European Central Bank kept its very accommodative monetary policy in place and revised its guidance on when interest rates might rise to convince investors it would keep interest rates at record lows for even longer.

Meanwhile, the German economy continued its strong recovery in July, fueled by strong demand partly resulting from an easing of containment measures in Europe's largest economy, a survey showed.

IHS Markit's flash composite PMI rose to 62.5 from 60.1 in June, hitting its highest level in nearly a quarter of a century.

The benchmark DAX inched up 85 points, or 0.6 percent, to 15,599 after closing 0.6 percent higher the previous day.

Automakers gained ground, with Daimler climbing nearly 3 percent. BMW rose 1.3 percent and Volkswagen added 1.7 percent.

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