Weak data lowers DAX edges


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.

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Weak data lowers DAX edges

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