German stocks gained for the first time in three days as business confidence rose more than economists forecast to the highest in seven months.
The DAX Index (DAX) advanced 0.3 percent to 6,861.94 at 11:01 a.m. in Frankfurt. The gauge has rallied 16 percent this year. The broader HDAX benchmark also increased 0.3 percent today.
“The outlook for the German economy has significantly brightened over the last few weeks,” said Christian Melzer, an economist at DekaBank in Frankfurt. “We can now thoroughly imagine the scenario that we won’t see a technical recession.”
The Ifo institute in Munich said its business climate index, based on a survey of 7,000 executives, climbed to 109.6 this month from 108.3 in January. Economists had predicted a reading of 108.8, according to the median of 38 estimates in a Bloomberg News survey.
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