On Thursday, German stocks saw an upswing as investors responded positively to promising earnings reports and anticipated the release of the Eurozone GDP figures later that day.
In a note of caution, Bundesbank President Joachim Nagel highlighted the risks associated with proposed trade tariffs by former U.S. President Donald Trump. In an interview with Die Zeit newspaper, Nagel stated, "If the tariff plans are implemented, it could cost us 1 percent of economic output."
In afternoon trading, the DAX index rose by 136 points, marking a 0.7 percent increase to reach 19,139, recovering from a 0.2 percent decline in the previous session.
Deutsche Telekom's shares surged by 2.7 percent after the telecom giant surpassed third-quarter profit projections and subsequently raised its full-year core profit outlook. Meanwhile, engineering powerhouse Siemens experienced a remarkable 7.3 percent jump in its stock price following fourth-quarter earnings that exceeded market expectations.
