German stocks saw a modest upward movement on Thursday, bolstered by the Swiss National Bank's decision to cut its interest rate by 50 basis points—a substantial reduction not seen in nearly a decade—as it grapples with stagnant inflation levels and a robust Swiss franc.
Investors keenly anticipate the European Central Bank's policy decision, expected later in the day, with predictions of a 25-basis-point rate reduction.
The DAX index, Germany's market benchmark, rose by 30 points, equal to a 0.2 percent increase, reaching 20,429, following a 0.3 percent rise in the previous trading session.
Automobile giants BMW and Mercedes Benz experienced gains of approximately 0.5 percent.
Hensoldt AG, known for its expertise in sensors and security solutions, gained 1.3 percent after affirming its financial outlook for fiscal year 2024 and revising parts of its medium-term targets upwards.
Wind turbine manufacturer Nordex SE recorded a slight increase. The company announced the acquisition of an order from Eco-Optima in Ukraine to supply turbines for the 40 MW Sokal Wind Farm.
