Vonovia, Germany’s largest real-estate company, agreed to buy Austrian rival Buwog for more than €5 billion ($5.9 billion).
Traders don’t expect an end-of-year rally in the DAX after the benchmark index gained 14% this year and despite the new tax legislation in the US. The stock market is expected to continue growing in 2018. (Reuters)
Pharmaceutical giant Boehringer Ingelheim’s CFO, Simone Menne, will leave the job after just 18 months, apparently due to a conflict with the great-grandson of the founder.
The German economy grew by 2.6% in 2017, more than the expected 1.9%. The Bundesbank also said growth will be higher than expected in 2018, adjusting forecasts from 1.7% to 2.5% growth.
The European Central Bank has decided to leave euro zone interest rates as they are, at current record lows.
The Ifo research institute raised its growth forecasts for the German economy, predicting an expansion of 2.3% this year and 2.6% in 2018, compared with 1.8% and 2.0% previously.