German stocks were struggling for direction on Friday as investors digested weak data and fretted about a broadening liquidity crisis in the Chinese property sector.
German industrial production declined unexpectedly in September, figures from Destatis revealed earlier in the day.
Industrial production dropped 1.1 percent on a monthly basis, but slower than the revised 3.5 percent decline seen in August. Economists had forecast a monthly growth of 1 percent.
On a yearly basis, retail sales fell 1 percent, in contrast to the 2.2 percent increase in August.
The benchmark DAX was down 15 points at 16,014 after closing 0.4 percent higher the previous day.
Chemicals group Lanxess fell about 1 percent after the company warned of cost pressures weighing on its 2021 profits.
Rheinmetall AG, an integrated technology group, rallied 2 percent after posting a rise in sales for the nine-month period ended in September.
Utility Uniper gained half a percent after increasing its outlook range for adjusted EBIT for fiscal 2021.
Beverage filling and packaging company Krones AG jumped 5.6 percent after reporting turnaround results for its third-quarter.
Market Analysis
DAX Struggles For Direction
2021-11-05 09:10:33
