German Stocks Advance, Paced by Metro, BASF and Adidas Shares

By Stefanie Haxel

Jan. 20 (Bloomberg) -- Germany’s benchmark DAX Index gained, led by Metro AG, BASF SE and Adidas AG.

The DAX rose 27.57, or 0.6 percent, to 4,343.71 as of 1:38 p.m. in Frankfurt, after falling as much as 0.8 percent earlier. The broader HDAX Index rose 0.7 percent.

Metro increased 1.15 euros, or 4.7 percent, to 25.54. Germany’s largest retailer will cut costs as part of a plan to raise profit by 1.5 billion euros ($2 billion) over the next four years, according to a person with knowledge of the situation.

BASF, the world’s largest chemical maker, climbed 68 cents, or 3 percent, to 23.36 euros. Adidas, the world’s second-largest sporting goods maker, added 68 cents, or 2.7 percent, to 25.62 euros.

To contact the reporter on this story: Stefanie Haxel in Frankfurt at shaxel@bloomberg.net.