German stocks edged lower on Tuesday as caution prevailed ahead of a European Central Bank meeting later this week.
The downside remained capped after data from Destatis showed German industrial production recovered in July.
Industrial production grew 1 percent month-on-month in July, offsetting a revised 1 percent fall in June. Economists had forecast a monthly growth of 0.9 percent.
On a yearly basis, industrial output advanced 5.7 percent in July, faster than the 5.4 percent increase posted in June.
The benchmark DAX dropped 0.2 percent to 15,907 after rallying 1 percent the previous day.
Deutsche Telekom AG gained 0.7 percent after it struck a share-swap deal with Softbank Group to increase its stake in U.S. unit T-Mobile and sold its Dutch unit in a major restructuring.
Allianz edged down slightly on reports that German regulator BaFin has started its own investigation into the insurance giant’s Structured Alpha Funds.
Market Analysis
DAX Edges Lower In Cautious Trade
2021-09-07 09:18:02
