German Stocks Advance; Metro, Hugo Boss Lead the Gain
Nov. 2 (Bloomberg) -- German stocks advanced, with the benchmark DAX Index snapping two days of declines, as European leaders prepared to tell Greece there is no alternative to budget cuts imposed in the bailout plan.
MAN SE rose 4.9 percent after it reiterated its sales forecast with all its divisions reporting higher third-quarter orders. Metro AG added 1.4 percent amid speculation that Germany’s largest retailer may sell its Kaufhof unit. Hugo Boss AG gained 1.2 percent as third-quarter net income rose.
The DAX advanced 2.3 percent to 5,965.63 at the close in Frankfurt. The gauge has still fallen 21 percent from this year’s high on May 2 amid concern global economic growth is slowing and policy makers are struggling to contain Europe’s debt crisis. The broader HDAX Index climbed 2.1 percent today.
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