German stocks were little changed on Monday after posting strong gains last week on dovish Fed bets.
Meanwhile, Germany’s factory orders grew unexpectedly in September, data from Destatis showed earlier today.
New orders climbed 0.2 percent on a monthly basis in September, confounding expectations for a fall of 1.0 percent.
Separately, cancellations of residential construction projects in Germany rose to a new high in October as housing demand weakened further, results of survey by the ifo institute showed today, adding to signs of recession in the biggest euro area economy.
The share of companies that reported cancelled housing projects rose to 22.2 percent from 21.4 percent in the previous month.
The benchmark DAX was marginally higher at 15,192 after edging up 0.3 percent on Friday.
Evotec plunged 5.5 percent after RBC downgraded the biotech firm’s stock to “Sector perform” from “Outperform”.
Market Analysis
DAX Little Changed As Factory Orders Rise
2023-11-06 08:52:38
