DAX Rises On Growth Optimism

(RTTNews) - German stocks advanced on Tuesday as investors hailed strong holiday season sales in the United States and grew confident a global recovery would regain steam next year despite the challenges posed by the Covid-19 pandemic.

Worries regarding Omicron continued to ease, with British health minister Sajid Javid saying that England will not get any new Covid-19 restrictions before the end of 2021.

Policy support signals from China also boosted sentiment.

China's short-term money rates eased from levels around their highest in months on Tuesday after the People's Bank of China injected 200 billion yuan ($31.39 billion) through seven-day reverse repos into the banking system, the biggest daily injection since late October, to meet higher demand for cash towards the year-end.

The benchmark DAX rose 51 points, or 0.3 percent, to 15,886 after rising half a percent to a one-month high on Monday.