DAX Drops To 2-month Low
(RTTNews) - German stocks are down in negative territory on Friday and the benchmark DAX is near two-month lows, as investors, assessing the recent interest rate decisions of the major central banks, and the developments on the trade front, remain cautious and mostly making cautious moves.
The DAX was down 146.98 points or 0.61% at 23,992.45 a little while ago.
Deutsche Telekom is down 1.8% and Hannover Rueck is declining by 1.7%, while Scout24, Symrise, Deutsche Bank, Munich RE and Allianz are down 1 to 1.3%.
Vonovia, Adidas, MTU Aero Engines, Siemens Healthineers, Zalando, Mercedes-Benz, Deutsche Bank and BMW are also down in negative territory.
Merck is gaining about 1.1%. Rheinmetall is up nearly 1% and Siemens Energy is advancing 0.7%. Fresenius Medical Care and Bayer are up marginally.
Data from the federal statistical office Destatis showed Germany's retail sales rose 2% month-over-month in September, after a revised 0.5% drop in the previous month. September's reading marked the first monthly increase since June. On an annual basis, retail sales grew 0.2% in September, after a downwardly revised 1.4% increase in August, and registering the slowest pace of increase in 14 months.
Data from Eurostat showed euro area consumer price inflation eased to 2.1% in October, down from 2.2% in September, according to preliminary data. The consumer price index increased 0.2% month-over-month in October, following a 0.1% rise in September.
Annual core inflation rate in the euro area which excludes prices of energy, food, alcohol and tobacco, was at 2.4% in October, the same as in September.
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