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DAX Dips On Weak Data
(RTTNews) - German stocks were moving lower on Wednesday after data showed Chinese exports and imports lost momentum in August, adding to headwinds for the world's second-largest economy.
Closer home, German industrial production fell 0.3 percent on a monthly basis, reversing a 0.8 percent rise in June, Destatis reported. Output was forecast to decline 0.5 percent.
Year-on-year, industrial production logged a decline of 1.1 percent after easing 0.1 percent in June.
The benchmark DAX slipped 0.3 percent to 12,83 after climbing 0.9 percent in the previous session.
SGL Carbon SE soared 12 percent. The maker of carbon-based products has raised its outlook for the fiscal 2022, citing continued good business development, especially in the Carbon Fibers Business Unit.
Gerresheimer AG fell 2.5 percent after it joined hands with Stevanato Group to develop a high-end Ready-To-Use solution platform with an initial focus on vials, based on Stevanato Group's EZ-fill technology.
Energy giant Uniper plunged 8 percent after warning natural gas prices could jump even higher.
Siemens Energy lost 5 percent after Gazprom said Russia's biggest natural gas pipeline to Europe will not resume pumping until the company repairs faulty equipment.
Siemens Energy said Tuesday that it did not comprehend Gazprom's presentation of the situation.
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