DAX Edges Lower Despite Strong Data
(RTTNews) - German stocks edged lower on Wednesday as weak U.S. data released overnight rekindled recession worries.
Closer home, Germany's factory orders posted a faster than expected growth in February driven by higher demand for motor vehicles and automobile engines, data revealed.
Orders grew 4.8 percent on a monthly basis, much faster than the 0.5 percent revised rise in January, Destatis reported.
Services sector activity also picked up, with S&P Global's final services PMI for Germany rising to 53.7 in March from 50.9 in February,
The benchmark DAX was down 44 points, or 0.3 percent, at 15,560 after closing 0.1 percent higher in the previous session.
The dollar traded weak while Eurozone government bond yields edged higher amid mixed signals about the monetary tightening path from central bank officials.
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