DAX Dips On Growth Worries

RTTNews | 1068 dias atrás
DAX Dips On Growth Worries

(RTTNews) - German stocks slipped on Wednesday amid growth worries after big U.S. banks cautioned of a likely recession next year.

Closer home, German industrial production fell less than expected in October, data released earlier today showed.

Output dipped 0.1 percent month-on-month in October versus expectations for a 0.6 percent drop.

On an annual basis, production was flat in October following a 3.1 percent increase the month before.

The benchmark DAX slipped 20 points, or 0.1 percent, to 14,323 after losing 0.7 percent the previous day.

MorphoSys AG jumped 3.2 percent after signing a licensing deal with Novartis for a cancer program.

Klöckner & Co. fell over 1 percent. The company said it has received the first CO2-minimized stainless-steel coil from Outokumpu.

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Japanese Market Notably Higher

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The Japanese stock market is trading notably higher on Monday, reversing some of the losses in the previous session, following the mixed cues from Wall Street on Friday, with the Nikkei 225 moving a tad above the 50,650 level, with gains across most sectors led by index heavyweights, financial and technology stocks.
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China Bourse May Spin Its Wheels On Monday

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The China stock market on Friday ended the two-day winning streak in which it had advanced more than 45 points or 1.1 percent. The Shanghai Composite Index now sits just beneath the 4,000-point plateau and it may sink further on Monday.
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