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DAX Subdued As Industrial Output Falls
(RTTNews) - German stocks were trading lower on Friday amid lingering worries about the impact of rising interest rates on economic growth.
Adding to the gloomy mood, new data showed German industrial production declined more than expected in May,
Industrial production posted a monthly fall of 0.2 percent in May in contrast to the 0.3 percent increase in April, according to figures from Destatis. Output was forecast to drop 0.1 percent.
On a yearly basis, industrial production grew 0.7 percent, following a 1.7 percent rise in April.
The benchmark DAX was down 18 points, or 0.1 percent, at 15,510 after plunging 2.6 percent the previous day.
The euro was on defensive mode ahead of the all-important U.S. jobs report due later in the day.
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The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters.
The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.
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