German stocks declined on Wednesday after data showed German industrial output rose less than expected in April.
Industrial production in the eurozone’s largest economy rose 0.3 percent on the previous month, missing forecasts for a 0.6 percent rise.
Disappointing trade data from China and hawkish ECB comments also weighed on sentiment, heading into next week’s Fed and ECB meetings.
The benchmark DAX was down 51 points, or 0.3 percent, at 15,941 after closing 0.2 percent higher in the previous session.
Banks Commerzbank and Deutsche Bank were seeing modest losses.
Automakers BMW and Volkswagen were down around 1 percent each.
Stratec SE advanced 1.6 percent. The company further expanded its presence in the United States by acquiring Natech Plastics.
Market Analysis
DAX Slips On Weak Data
2023-06-07 08:51:26
