German stocks struggled for direction in early trade on Friday as investors awaited the U.S. May payrolls data later in the day for directional cues.
A strong reading may reinforce expectations the Federal Reserve would pare back its massive stimulus program sooner than expected.
The benchmark DAX was marginally higher at 15,637 after rising 0.2 percent on Thursday.
Lanxess AG shares were little changed. The U.K’s Competition and Markets Authority said that it is investigating the proposed acquisition of Emerald Kalama Chemical LLC by the German specialty chemicals company.
Airline Lufthansa was moving lower as Britain added seven more countries to its “red list” of destinations that require hotel quarantine on return to England.
In economic releases, German construction sector contracted further in May largely due to the supply chain bottlenecks, survey results from IHS Markit showed.
The construction Purchasing Managers’ Index fell to 44.5 in May from 46.2 in the previous month. This was the lowest reading since February, when the sector was impacted by a bout of severe wintry weather.
There were marked decreases in activity across both the commercial and civil engineering categories. Housing activity continued to show a more resilient trend but was in negative territory.
DAX Struggles For Direction Ahead Of US Jobs Data
2021-06-04 08:56:46
