BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks were little changed in early trade Thursday as investors digested mixed earnings reports and official data showed German GDP growth accelerated as estimated in the fourth quarter.
GDP grew 0.4 percent sequentially in the fourth quarter, faster than the 0.1 percent expansion seen in the third quarter, Destatis said. The calendar-adjusted GDP growth held steady at 1.7 percent in the fourth quarter.
Separately, survey data from the GfK showed that the forward-looking German consumer climate index dropped to 10 from 10.2 in February as both economic and income expectations deteriorated. Economists had forecast a reading of 10.1.
The benchmark DAX was up 14 points or 0.12 percent at 12,012 in opening deals after rising 0.3 percent the previous day.
Aircraft engine manufacturer MTU Aero Engines gained half a percent on reporting a rise in fourth-quarter net profit.
Consumer goods maker Henkel dropped half a percent despite reporting stronger-than-expected fourth-quarter results and lifting its 2016 dividend.
Aareal Bank Group fell over 4 percent. The real estate lender expects its fiscal 2017 consolidated net interest income to decline to between 620 million euros and 660 million euros, largely due to the continued, scheduled reduction of non-strategic portfolios in the entities acquired over the past two years.
Copyright RTT News/dpa-AFX