German stocks were little changed in cautious trade on Friday, as investors weighed optimism over region’s economic recovery against fears of an early taper.
The downside, if any, was limited after data showed German consumer confidence is set to improve in July.
GfK said its forward-looking consumer sentiment index rose more-than-expected to -0.3 in July from revised -6.9 in June as the country eased the lockdown restrictions. The reading was the highest since August 2020. The expected score was -4.0.
The economic and income expectations increased significantly while the propensity to buy showed moderate growth.
Sharply falling incidences and significant advances in vaccination allow more extensive loosening or opening of the economy, Rolf Bürkl, GfK consumer expert, said.
The benchmark DAX was down 10 points at 15,578 after gaining 0.9 percent on Thursday.
Banks Commerzbank and Deutsche Bank were seeing modest gains after Reuters reported that Credit Suisse was considering a potential merger with UBS.
DAX Inches Lower In Cautious Trade
2021-06-25 08:11:07
