German stocks retreated on Friday amid lingering concerns about slowing growth and rising inflation.
German retail sales rebounded in August but at a slower-than-expected pace, data published by Destatis showed earlier in the day.
Retail sales grew 1.1 percent month-on-month in August, reversing a 4.5 percent fall in July. Economists had forecast a monthly growth of 1.5 percent.
On a yearly basis, retail sales growth held steady at 0.4 percent in August. This was much slower than the expected growth of 1.9 percent.
Germany’s September final manufacturing PMI came in at 58.4 almost in-line with preliminary reading of 58.5.
The benchmark DAX fell 133 points, or 0.9 percent, to 15,127 after declining 0.7 percent in the previous session.
Daimler was little changed in volatile trade as shareholders vote on spinning off the sprawling truck division from the Mercedes-Benz luxury-car operations.
Leoni AG advanced 1.8 percent. The company said it will reach a binding agreement to sell the Business Group Leoni Industrial Solutions to BizLink Holding Inc.
Beiersdorf rose 0.6 percent. Coppertone, owned by the German consumer major, is recalling certain aerosol sunscreen spray products citing the presence of Benzene, a human carcinogen, the U.S. Food and Drug Administration said.
DAX Retreats On Growth Worries
2021-10-01 09:04:41
