DAX Extends Gains As Factory Orders Rise

German stocks rose on Thursday, with upbeat factory orders data and a better outlook from carmaker Volkswagen helping underpin investor sentiment.

German factory orders growth accelerated more than expected in March, data from Destatis revealed. Factory orders increased 3 percent month-on-month in March, faster than the revised 1.4 percent increase seen in February. Orders were expected to climb 1.7 percent.

On a yearly basis, new order growth increased sharply to 27.8 percent from 5.8 percent in the previous month.

The benchmark DAX edged up 34 points, or 0.2 percent, to 15,202 after rallying 2.1 percent the previous day.

Automaker Volkswagen dropped 1.2 percent, giving up earlier gains after raising its 2021 operating margin targets.

Similarly, online chain Zalando edged down slightly despite raising its outlook for the year.

Rheinmetall AG fell 0.6 percent despite confirming its 2021 outlook.

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