DAX Up 115 Points As G7 Meeting Kicks Off In Japan

(RTTNews) - German shares followed Asian peers higher on Friday as oil and metal prices rose and investors turned their attention to the G7 meeting of central bankers and finance ministers that could provide some clarity over the conduct of global monetary and fiscal policies.

On a relatively light economic calendar day, German producer prices declined 3.1 percent in April from last year, the same pace of decrease as seen in March but slightly faster than the 3 percent fall forecast by economists, official data showed. Producer prices have been falling since August 2013.

Another report from the European Central Bank revealed that the euro zone's current account surplus widened to hit a four-month high in March, thanks to higher exports of goods. The current account surplus increased to 27.3 billion euros from 19.2 billion euros in February.

The benchmark DAX was up 115 points or 1.18 percent at 9,911 in late opening deals after declining 1.5 percent in the previous session.

Banks Commerzbank and Deutsch Bank gained 1-2 percent.

Daimler added half a percent despite its truck division lowering its 2016 financial forecast, citing slowing sales.

Lanxess shares advanced 1.5 percent. The specialty chemicals company said it is seeking to increase the dividend or at least maintain it at a stable level.