Germany's benchmark DAX index recovers

The benchmark DAX index at Frankfurt Stock Exchange on Thursday recovered and gained over 90 points.

The blue-chip index advanced after two days of heavy losses. Local analysts attributed the losses partly to the decision by People's Bank of China to better reflect market development in the exchange rate between the Chinese yuan or renminbi against the U.S. dollar. As the Chinese central bank kept its word and investors here seem relieved, according to local analysts.

Deutsche Boerse AG topped the list of risers with an increase of 3.37 percent. Fresenius SE & Co. KGaA, a health care group, advanced by 2.95 percent. K+S Aktiengesellschaft, a standard and specialty fertilizers provider, rose by 2.42 percent. Merck KGaA, a pharmaceutical, chemical and life science company, climbed by 2.24 percent. Bayer AG went up by 1.81 percent.

On the other hand, the utilities company RWE AG St fell sharply by 7.91 percent. Deutsche Lufthansa AG lost 1.44 percent. Henkel AG & Co. KGaA Vz, which operates in three areas including laundry and home care, beauty care and adhesive technologies, dropped by 0.69 percent. Continental AG fell by 0.44 percent. ThyssenKrupp AG went down by 0.4 percent.

The turnover stood at 3.62 billion euros (around 4.02 billion U.S. dollars). Daimler AG was the most traded share of the day with a turnover of 356.29 million euros (around 396.01 million U.S. dollars).