DAX Subdued Amid US-China Tensions; Automakers Surge
(RTTNews) - German stocks were subdued on Thursday as geopolitical tensions between the U.S. and China intensified, raising uncertainty around U.S. policy ahead of the presidential elections.
Investors also awaited the European Central Bank's interest-rate decision for directional cues.
The benchmark DAX was down 19 points, or 0.1 percent, at 18,418 after declining 0.4 percent in the previous session.
Automakers surged after industry data showed new car sales in the EU recovered strongly in June, driven by gains in three out of the region's four major markets.
New car registrations rose 4.3 percent year-over-year to 1.089 million units in June, reversing a 3.0 percent fall in May.
Among the four major markets, the Italian market showed the strongest sales growth of 15.1 percent, followed by Germany with a 6.1 percent rise.
BMW jumped 1.8 percent, Mercedes Benz added 1.6 percent and Volkswagen rose 1.1 percent.
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