DAX Gives Up Early Gains
(RTTNews) - German stocks were subdued on Thursday, giving up earlier gains as the euro held gains against the dollar in a shallow market due to the Christmas holidays.
The benchmark DAX was down 15 points at 16,726 after gaining 0.2 percent the previous day on dovish Fed bets.
U.S. holiday retail sales figures came in below expectations, denting sentiment.
Preliminary insights from Mastercard SpendingPulseTM showed that U.S. retail sales increased 3.1 percent over the key holiday shopping season, markedly lower from last year's 7.6 percent rise as higher interest rates and inflation pressured consumer spending.
Economy-sensitive stocks are moving lower, with Commerzbank, Deutsche Bank, BMW, Mercedes Benz and Volkswagen all trading in the red.
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