German stocks traded lower on Monday after official data showed Germany’s industrial production declined more than expected in June on weak auto production.
Industrial production posted a monthly fall of 1.5 percent in June, following a revised 0.1 percent drop in May, Destatis reported while analysts forecast output to decrease moderately by 0.5 percent.
On a yearly basis, industrial production slid 1.7 percent in June after staying flat in May.
Elsewhere, the Eurozone Sentix Investor Confidence improved to -18.9 in August from -22.5 in July. Analysts had expected a score of -23.4.
The benchmark DAX was down 26 points, or 0.2 percent, at 15,925 after edging up 0.4 percent on Friday.
Vehicle maker Daimler Truck Holding fell about 1 percent.
The company said that its Chief Financial Officer Jochen Goetz, 52, passed away suddenly and unexpectedly in a tragic incident on August 5th, 2023.
Aurubis AG, a supplier of non-ferrous metals, plunged nearly 8 percent after revenue for the first nine months of fiscal 2023 missed expectations.
Siemens Energy gained more than 1 percent despite posting a wider loss for Q3 and cutting its annual outlook.
DAX Slips On Weak Industrial Production Data
2023-08-07 08:54:36
