German stocks fell on Monday after data showed an unexpected fall in retail sales in March.
Retail turnover was down by real 0.1 percent on a monthly basis in March, offsetting a 0.1 percent rise in the previous month and in contrast to the expected growth of 0.3 percent.
On a yearly basis, retail sales fell 2.7 percent, confounding expectations for an increase of 6.1 percent.
The benchmark DAX dropped 1.5 percent to 13,892 after rising 0.8 percent on Friday.
Tech stocks led losses, with TeamViewer falling 2.3 percent and SAP losing 1 percent.
Sixt SE, an international mobility service provider, fell more than 2 percent after it was hit by a cyber-attack.
Automakers BMW and Volkswagen declined 1-2 percent on concerns over slowing growth in China.
Property group Adler Group SA plummeted as much as 43 percent. All members of its board of directors have offered to resign with immediate effect after an auditor declined to give an opinion on the company’s financial statements.
Market Analysis
DAX Dips On Weak Data
2022-05-02 09:03:08
