German stocks were flat to slightly higher on Friday after flash survey results from IHS Markit showed the country’s private sector activity experienced a slight pick-up in May, driven by an improved performance across services.
The composite output index advanced to 56.2 in May from 55.8 in April, driven by a return to growth in services activity amid easing of some lockdown restrictions. But the reading was below the expected level of 57.1.
Growth in manufacturing moderated, with the corresponding PMI falling to 64.0 in May from 66.2 in the previous month. The services PMI hit a 10-month high of 52.8 versus 49.9 a month ago.
The benchmark DAX inched up 17 points, or 0.1 percent, to 15,388 after climbing 1.7 percent in the previous session.
CTS Eventim shares surged 5.1 percent. The concert promoter and ticketing company said ticket sales in Germany have begun to pick up for major and mid-sized artists and events.
BMW rose half a percent. The automaker said it expects an antitrust fine from the European Union will be much smaller than anticipated two years ago.
Lufthansa slumped 6.6 percent after the Thiele family, the second-largest shareholder, sold more than half its stake in the airline group.
DAX Edges Higher In Lackluster Trade
2021-05-21 08:57:55
