DAX Dips As Factory Orders Slump
(RTTNews) - German stocks declined on Monday after official data showed Germany's factory orders declined at a faster-than-expected pace in August.
According to preliminary figures from data Destatis, incoming new orders contracted 5.8 percent on a monthly basis in August, reversing July's upwardly revised 3.9 percent expansion. Orders were expected to fall 1.9 percent.
Further, this was the steepest decline since January, when orders had fallen 10.9 percent. Excluding large orders, new orders dropped 3.4 percent from July.
On a yearly basis, new orders declined 3.9 percent, in contrast to the 4.6 percent increase in the prior month.
The benchmark DAX was down 63 points, or 0.3 percent, at 19,057 after climbing 0.6 percent on Friday.
In corporate news, Heidelberg Materials rose 1.2 percent after a report that India's Adani Group has entered into talks to acquire its India cement operations in a deal that could be worth about $1.2 billion.
European Shares Poised For Mixed Open
Sensex, Nifty Modestly Higher In Early Trade; Pharma Stocks Rally
Asian Markets Trade Mostly Lower
Sensex, Nifty Set For Weak Open On Sluggish Asian Cues
Japanese Market Notably Lower
Australian Market Modestly Lower
TSX Keeps Hitting New Highs, Ends 0.22% Up
