German stocks edged lower on Tuesday as investors booked profits from a recent rally powered by the vaccine rollouts, falling coronavirus infections and U.S. stimulus hopes. The downside remained limited after data showed German exports rose in December.
The benchmark DAX slid 20 points, or 0.2 percent, to 14,039 after finishing marginally higher the previous day.
Travel firm TUI AG edged up slightly despite reporting a wider net loss for the first quarter of fiscal 2021.
Osram Licht, the maker of lighting products, was marginally lower after announcing that it is looking to sell its digital business unit.
In economic releases, German exports rose marginally in December, data from Destatis revealed. Exports gained 0.1 percent month on month, slower than the 2.3 percent increase in November. Economists had forecast a monthly fall of 1 percent.
At the same time, imports decreased 0.1 percent, following a 5.4 percent rebound logged a month ago. Imports were expected to decline more sharply by 1.1 percent.
Year-on-year, exports advanced 2.7 percent, reversing a 1.2 percent drop in the previous month. At the same time, the annual growth in imports accelerated to 3.5 percent from 0.5 percent.
Market Analysis
DAX Edges Lower In Lackluster Trade
2021-02-09 09:11:51
