German Car Makers Lead Stocks Rally

A large boost in the German automotive industry helped German stocks achieve a new six-month high as Greek political leaders announced that terms for austerity measures have been reached, clearing the path for the nation to cut its debt.

Mercedes-Benz cars and trucks reported higher than expected fourth-quarter earnings resulting in the Daimler rising 4.6 percent. Volkswagen AG rose 2.1 percent, Commerzbank AG grew 3.3 percent, and Bayerishe Moteren Werke AG increased by 3.7 percent. BMW also gained 3.7 percent.

The DAX Index as a whole gained 0.6 percent to 6,788.80 at the end of the trading day in Frankfurt, the first increase in four days. The broader HDAX Index added 0.5 percent.