DAX Marginally Higher In Cautious Trade
(RTTNews) - German stocks edged up slightly in cautious trade on Thursday despite the S&P 500 and the Nasdaq Composite logging a fourth straight day of losses overnight.
The benchmark DAX was up 18 points, or 0.10 percent, at 17,788 after finishing marginally higher the previous day.
Automakers traded higher despite industry data showing that new car sales in the EU decreased for the first time in three months in March amid weaker demand among four major markets.
New car registrations dropped 5.2 percent year-over-year to 1.0 million units in March, reversing a 10.1 percent surge in February - according to monthly data from the European Automobile Manufacturers' Association.
BMW rose about 1 percent, Mercedes Benz gained 0.3 percent and Volkswagen added 0.7 percent.
Lab supplies maker Sartorius lost 12 percent after Q1 order intake and revenue missed analyst expectations.
Sartorius Stedim Biotech plunged 15 percent after the company reported net profit of 56 million euros for the first quarter, significantly lower than 111 million euros in the same quarter a year ago, primarily due to lower sales revenue.
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