Amended: DAX Little Changed As GDP Contracts

RTTNews | 567 dagar sedan
Stocktwits
Amended: DAX Little Changed As GDP Contracts

(RTTNews) - German stocks were little changed on Friday after official data showed the German economy contracted slightly in the third quarter compared with the previous three months.

GDP declined 0.1 percent sequentially, confirming a first estimate, published in late October as the country languishes in a likely recession.

The German lfo business climate data for November is awaited later in the day.

The benchmark DAX was marginally higher at 15,998 after closing 0.2 percent higher in the previous session.

Tech stocks declined, with Infineon Technologies falling around half a percent as Treasury yields climbed on expectations that U.S. interest rates will remain elevated for longer. DAX Continental AG rallied 2.4 percent after Barclays upgraded shares of the automotive parts maker to "overweight."

(Amended: Corrected to remove duplicate headline)

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