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DAX Dips As Business Sentiment Worsens
(RTTNews) - German stocks traded lower on Monday after a survey showed German business sentiment slightly worsened in September.
The Ifo institute said its business climate index stood at 85.7 versus a score of 85.2 forecast by analysts.
The euro edged lower against the dollar after European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau said that interest rates should remain at these levels for a sufficiently long period of time.
ECB President Christine Lagarde is scheduled to testify before the European Commission's Committee on Economic and Monetary Affairs later in the day, with investors looking for more clues to indicate that the eurozone's central bank is done hiking.
The benchmark DAX was down 113 points, or 0.7 percent, at 15,444 after finishing marginally lower on Friday.
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