German stocks were flat to slightly higher on Friday as investors looked ahead to U.S. jobs data due later in the day for clues to the pace of economic recovery and the rate outlook.
Investors shrugged off data showing that Germany’s industrial production declined unexpectedly in June.
German industrial output dropped 1.3 percent in June from May, when production was down by revised 0.8 percent, Destatis reported. Economists had forecast production to grow 0.5 percent in June.
Year-on-year, industrial output grew 5.1 percent, but slower than the 16.6 percent increase seen in May.
The benchmark DAX edged up 20 points, or 0.1 percent, to 15,764 after closing up 0.3 percent in the previous session.
Insurer Allianz rallied nearly 3 percent after it posted a better-than-expected second-quarter earnings and issued a rosier outlook for the full year.
Meal-kit delivery company HelloFresh tumbled 3.3 percent after lowering its 2021 profitability forecast.
Market Analysis
DAX Holds Steady Despite Weak Data
2021-08-06 09:08:10
