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DAX Inches Higher As Automakers Rebound

(RTTNews) - German stocks were modestly higher on Thursday, as a hawkish FOMC statement boosted the dollar and helped lift automakers after steep losses in the previous session.

The benchmark DAX was up 49 points or 0.42 percent at 11,763 in opening deals after falling half a percent in the previous session.

Automaker BMW rose about 1 percent, Daimler rallied 1.2 percent and Volkswagen advanced 1.3 percent.

Lender Commerzbank was marginally higher and Deutsche Bank gained 0.8 percent.

HeidelbergCement plunged over 9 percent after cutting its FY outlook.

Software giant SAP tumbled 3.2 percent despite the company raising its guidance for revenues and profits this year.
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