DAX Edges Lower On Weak Data

RTTNews | 887天前
DAX Edges Lower On Weak Data

(RTTNews) - German stocks edged lower on Friday after data showed retail sales fell more than expected in August and industrial production contracted, stoking recession worries.

German industrial output dropped 0.8 percent on a monthly basis in August after remaining flat in July as raw material shortages and supply chain bottlenecks continued to dampen the functioning of many industries, Destatis said. Production was forecast to ease 0.5 percent.

Retail sales also weakened in August signaling weak contribution to growth from household spending amid rising energy prices.

Another report revealed that retail sales eased 1.3 percent from July compared to the expected drop of 1.1 percent.

The benchmark DAX was down 31 points, or 0.3 percent, at 12,439 after closing 0.4 percent lower in the previous session.

Infineon Technologies fell over 1 percent on the back of weak earnings and forecasts from Samsung and Advanced Micro Devices.

Adidas lost 1 percent after the sporting goods maker said it was reviewing its relationship with rapper and fashion designer Kanye West.

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Asian Markets Trade Mixed

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RTTNews | 4小时10分钟前
Thai Shares May Bounce Higher Again On Thursday

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RTTNews | 5小时54分钟前
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RTTNews | 6小时24分钟前
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RTTNews | 6小时30分钟前
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RTTNews | 6小时39分钟前
Rebound Predicted For China Stock Market

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RTTNews | 6小时54分钟前
Australian Market Modestly Higher

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The Australian stock market is trading modestly higher on Thursday, recouping some of the losses in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 7,800 level, with gains in gold miners and technology stocks as some traders picked up stocks at a bargain after the recent slump in the markets.
RTTNews | 6小时55分钟前