DAX Little Changed Ahead Of ECB Meeting

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DAX Little Changed Ahead Of ECB Meeting

(RTTNews) - German stocks were subdued on Monday, heading into the European Central Bank meeting this week that could see communication changes.

The benchmark DAX was marginally lower at 17,726 after gaining 0.3 percent on Friday. In corporate news, chemicals firm Evonik added 1.4 percent after an announcement that it would cut up to 2,000 jobs globally by 2026 in order to reduce costs.

Henkel was marginally lower after the chemical and consumer goods company warned of slower sales growth this year.

Delivery Hero shares soared 5.6 percent. The online food ordering and delivery company has launched a finance transaction that will amend and extend its 1.1-billion-euro equivalent term facilities and raise around 500-million-euro equivalent term facility.

Rheinmetall gained 1.2 percent. The company said it has won an order to supply a European member of NATO with multiple rocket launcher ammunition.

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German Unemployment Exceeds 3 Mln

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Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
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U.K. stocks are trading lower on Friday, losing ground for a fourth straight session, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
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Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
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French Stocks Mostly Subdued In Cautious Trade

The French market is down in negative territory on Friday with investors digesting a slew of economic data, and look ahead to key consumer inflation report from the U.S.
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