DAX Rises As Factory Orders Fall Less Than Expected

German stocks advanced on Thursday after data showed the country's factory orders fell less than feared in June.

Orders declined by 0.4 percent from May, while analysts had predicted a 0.9 percent drop.

On an annual basis, factory orders fell 9 percent following a revised 3.2 percent fall a month earlier, according to data released by Destatis.

The benchmark DAX jumped 100 points, or 0.7 percent, to 13,687 after climbing around 1 percent in the previous session.

Lufthansa shares surged 5.3 percent after the airline returned to operating profit in the second quarter, thanks to booming demand for air cargo flights.

Sportswear firm Adidas rallied 2.4 percent despite second-quarter earnings and revenue falling short of expectations.

Similarly, engineering firm Manz AG jumped 2.4 percent despite reporting a loss for the first half.

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