German stocks fell notably on Tuesday, with a surge in government bond yields and weak industrial profits data from China denting sentiment.
China’s industrial profit growth decelerated to 10.1 percent in August from a year earlier, the slowest pace since last September as high commodity prices pushed up costs while constraints including virus outbreaks and a chip shortage curbed production, official data showed earlier today. That compared with a 16.4 percent increase in the previous month.
Closer home, German consumer confidence is set to improve in October, survey results from the market research group GfK showed.
The forward-looking consumer confidence index rose to +0.3 points from -1.1 in September. The score was forecast to fall further to -1.5. GfK said the consumer climate has reached its highest level in almost a year and a half.
The benchmark DAX fell 138 points, or 0.9 percent, to 15,435 after rising 0.3 percent in the previous session.
DAX Retreats On Weak China Data
2021-09-28 09:03:33
