(fxcue news) - German stocks are up sharply on Thursday thanks to some upbeat earnings announcements and easing concerns about tariff tensions. Investors are also looking ahead to the monetary policy announcements from the Federal Reserve and the Bank of England. Optimism on the trade front has increased after the U.S. President Donald Trump said that he would soon announce "a major trade deal with representatives of a big and highly respected country." According to reports, the U.S. President is likely to announce a framework of a trade deal with the U.K. Meanwhile, representatives of the U.S. and China are set to meet in Switzerland this weekend for trade talks. The benchmark DAX was up 291.36 points or 1.26% at 23,409.00 a little while ago. Siemens Energy is up 3.5% after reporting second-quarter net income of 433 million euros or 0.49 euros per share from 68 million euros or 0.08 euros per share in the same quarter last year. Infineon Technologies is gaining more than 3.5% despite lower earnings. The semiconductor manufacturer reported profit from continuing operations before income taxes of 293 million euros for the second quarter, significantly lower than 487 million euros in the same quarter a year ago, mainly due to higher operating expenses as well as lower revenue. Heidelberg Materials is also up by about 3.5%. The company reported that its first-quarter result from current operations rose to 235 million euros from 232 million euros, a year ago. Shares of sportswear maker Puma are rising more than 7%. The company reported sharply lower profit in its first quarter with higher expenses and lower sales. However, the firm maintained its fiscal 2025 outlook, and said it is on track to have approximately 500 corporate positions reduced globally by the end of the second quarter 2025. BMW, Porsche, Volkswagen, Siemens, Rheinmetall, Daimler Truck Holding, SAP and Zalando are up 2 to 3%. Porsche Automobil Holding, Deutsche Post, Continental, Adidas and Beiersdorf are also up with strong gains. Mercedes-Benz is down more than 6%. Hannover Rueck is lower by nearly 3%, while Commerzbank, E.ON., Henkel and Siemens Healthineers are down 0.6 to 1%. In economic releases, Germany's industrial production increased 3% month-on-month in March, in contrast to the 1.3% decrease in February, data from Destatis revealed. Output was expected to grow 0.9%. German exports increased 1.1% on a monthly basis in March, but this was weaker than February's 1.8% gain, separate set of data showed. Shipments were expected to climb 1%.