(RTTNews) – German stocks are somewhat subdued on Friday with investors mostly making cautious moves, reacting to the nation’s factory orders data, and awaiting the crucial U.S. jobs data, due later in the day.
The benchmark DAX, which climbed to 23,886.39 earlier in the session, was up 10.01 points or 0.04% at 23,797.04 a few minutes ago.
Infineon Technologies, Commerzbank and Rheinmetall are up 1.8 to 2%. Daimler Truck Holding, Zalando, Volkswagen and Adidas are gaining 1.1 to 1.4%.
Deutsche Bank, RWE, Symrise, BASF, Brenntag, Mercedes Benz and Porsche Automobil are up with moderate gains.
E.ON moved up after it signed an agreement to sell its Czech subsidiary Gas Distribution s.r.o. to GasNet.
Beiersdorf is down 1.4%. Bayer, Deutsche Telekom, Henkel, Munich RE, Fresenius and Hannover Rueck are lower by 0.4 to 1%.
In economic news, Germany’s factory orders declined for the third straight month in July, figures from Destatis revealed.
New orders fell 2.9% month-on-month in July, confounding expectations for an increase of 0.5%. The fall was also sharper than the 0.2% decrease posted in June. Further, this was the fastest decline since January, when prices dropped 5.4%.
On a yearly basis, the decline in factory orders was 3.4% versus a 1.7% rise in the previous month.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
#DAX #Marginally #Cautious #Trade #Ahead #U.S #Jobs #Data