German DAX expands backlash

On Thursday, Frankfurt's DAX closed 0.4% higher at 18,450, extending gains from the previous session as the market continued to evaluate the latest data and central bank reports for hints on the ECB and Fed policy outlook.

According to the minutes of the latest meeting between the two central banks, policy makers have shown recognition that the fight against inflation is not over, but it is necessary to consider the risk of overtightening.

Meanwhile, the latest data from Germany showed that Germany, the largest economy in Europe, continues to be sluggish, with factory orders shrinking unexpectedly, and the construction sector continues to shrink.

Tire manufacturer Continental received upgrade recommendations from JP Morgan and recorded a sharp rise of 10%.

Also, the fact that Volkswagen, Mercedes, and Porsche each rose 1% or more also underpinned the automobile sector.