The DAX 40 index closed at 15,533.6 points, gaining 0.18% on Thursday. The index touched a 52-week high at the close.
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Overall, European stocks were trading higher, driven by Wall Street strength and positive corporate earnings.
Christine Lagarde, President of the European Central Bank, commented on Wednesday that the market should be ready for another rate hike in the next month. The ECB raised rates by half a percentage point on February 2 and expects another 50 basis point hike in March.
German stocks, on the other hand, were mixed at the end of Thursday trading. Construction, retail, and financial services sector stocks were down, which offset the gains in food, consumer goods, and industries.
Airbus Group SE (DE:AIR) gained almost 5% after it announced solid annual results for 2022. The company posted revenue of €58.8 billion and a net profit of €4.3 billion for the full year.
On the MDAX, the top performer was Commerzbank’s (DE:CBK) stock, which gained more than 10% in a day after the bank’s fourth-quarter profits increased by 12%. The bank also remains positive for better numbers in 2023, despite tough situations.
Commerzbank is the second largest lender in the country and is targeting to get its place back on the DAX 40 index.
On the bottom side, Zalando SE (DE:ZAL) fell by 2.4%, and Siemens Healthineers AG (DE:SHL) was down by more than 2%.
