German stocks fell on Monday as investors awaited cues on rate hikes from the U.S. Federal Reserve policy meeting this week.
Adding to the caution were concerns about a possible Russian attack on Ukraine after the United States said it was ordering the departure of eligible family members of staff from its embassy in the country.
Investors ignored flash survey results from IHS Markit showing that Germany’s private sector rebounded in January, led by a stronger performance from the manufacturing sector.
The flash composite output index rose unexpectedly to 54.3 in January from 49.9 in December. The score was forecast to fall to 49.2.
The upturn was led by the manufacturing sector, which recorded its strongest performance on the production front for five months.
The benchmark DAX slipped 102 points, or 0.7 percent, to 15,501 after losing 1.9 percent on Friday.
Tech stocks underperformed, with Infineon Technologies down nearly 1.5 percent.
Commerzbank AG was marginally higher. The lender said that its fourth-quarter earnings would be impacted by provisions made at its Polish mBank, but it still expects expects a positive net result for the financial year 2021.
Market Analysis
DAX Dips As Traders Await Clues From Fed Meeting
2022-01-24 09:12:00
