Weak data lowers DAX edges

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German stocks fell on Friday after data showed an unexpected decline in German industrial production in November.

According to Destatis, industrial output in November fell 0.2% month-on-month and reversed the 2.4% rise in October. Economists predicted that production would increase by 1%.

On an annual basis, industrial production fell 2.4% after a 0.9% decline last month.

Investors were also waiting for a very important US employment report later that day to get clues about the pace of US rate hikes.

Benchmark DAX fell 99 points (0.6%) to 15,953 after falling 1.4% the day before.

MorphoSys fell 2.6%. Biotechnology companies reported that Monjubi’s interim net product sales in the United States were $ 23.6 million in the fourth quarter and $ 79.1 million for the full year 2021.

Travel stocks are under selling pressure, with airline Lufthansa down 0.7%.

Lender Deutsche Bank rose 1.8% after saying it was confident that it could meet its key earnings targets this year.

Contact for comments and feedback: editorial@rttnews.com

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Weak data lowers DAX edges

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