German stocks edged down slightly on Wednesday after industrial production posted a sharper-than-expected decline in December.
German industrial output dropped 1.6 percent on month, bigger than the revised 0.2 percent fall in November and also economists’ forecast of 0.4 percent decrease, data from Destatis revealed.
On a yearly basis, the decline in industrial production softened to 3.0 percent from 4.3 percent in November.
The benchmark DAX was down 42 points, or 0.3 percent, at 16,991 after gaining 0.8 percent in the previous session.
In corporate news, computer software company TeamViewer soared almost 11 percent after Q4 revenue beat estimates.
Bio-pharmaceutical firm Evotec added about 1 percent after expanding a collaboration with Advanced BioScience Laboratories to fight against HIV.
Siemens Energy advanced 1.4 percent after it swung to a 1.58 billion-euro ($1.7 billion) net profit in the first quarter and confirmed is FY24 outlook.
Market Analysis
DAX Slips As Industrial Production Extends Decline
2024-02-07 08:50:47
