Volkswagen Leads German Stock Rise for a Fourth Day, BASF

Germany’s benchmark DAX Index increased for a fourth day. After increasing the number of workers in its Auto 5000 plant in Wolfsburg, Germany, Volkswagen AG paced the advance of the said increase. BASF AG, Henkel KGaA and SAP Ag also increased.

The DAX were able to add a 0.7 percent, to 8085.15 at 11 in the morning yesterday in Frankfurt, heading for a record close. DAX futures expiring in September this year climbed 0.8 percent to 8173. The HDAX Index of the country’s largest enterprises increased 0.7 percent. “It is very likely that we will see the DAX reaching a record high this week, as last week’s positive momentum could be carried forward into this week,” an equity strategist at WestLB AG in Dusseldorf, Michael Scholz, said.

Volkswagen increased 1.77 euros, or 1.6 percent, to 115.43 euros. As Auto Motor and Sport magazine have reported, Volkswagen will increase their number of employees in their Wolfsburg plant to 4600 this year, in order to boost their capacity for the launch of the Tiguan sports utility.

On another part of the globe, Dubai will begin an “Automobile City” in the United Arab Emirates with Al Nabooda Automobiles, a dealer of Audi, Porsche an Volkswagen in Dubai, and the Northern Emirates, the companies said on June 17.

The world’s largest chemical company, BASF, increased 2.41 euros, or 2.6 percent, to 94.45 euros. And the world’s biggest maker of business-management software, advanced 74 cents, or 2 percent, to 37.30 euros. Henkel, the maker of Persil detergent and Dial soap, increased 20 cents, or 0.5 percent, to 39.40 euros. Today a 3- for-1 stock split became effective.