BERLIN (dpa-AFX) - After opening on a positive note, tracking cues from Asian markets, German stocks retreated as the session progressed on Monday with investors reacting to the latest batch of economic data.
The benchmark DAX, which opened at 10,836.16, declined to a low of 10,756.22 subsequently and is currently at 10,767.10, down slightly from previous close.
Fresenius is declining by about 1.7%. Beiersdorf, Henkel, Adidas, Bayer, E.ON, Merck and Siemens are lower by 0.3 to 1%.
Meanwhile, Wirecard, Infineon, Deutsche Bank, Daimer are up in positive territory, gaining 1 to 2%. Covestro, Volkswagen, Continental, BASF, Deutsche Post and Thyssenkrupp are also up in positive territory.
On the economic front, Germany's manufacturing new orders decreased for the first time in four months in November and the fall was worst than expected, preliminary data from Destatis showed on Monday.
Factory orders decreased a calendar and seasonally adjusted 1% from October, when they grew 0.2%, revised from 0.3% reported earlier. Economists had forecast a modest decline of 0.1%. The latest fall was the most severe since a 3.6% slump in June.
The data said demand from the euro area dropped 11.6%, while orders from other countries grew 2.3%.
However, there was something to cheer about on the data front, with a preliminary report from Destatis showing Germany's retail sales to have grown at the fastest pace in seven months in November, exceeding economists' expectations.
Retail sales rose a calendar and seasonally adjusted 1.4% from October, when they edged up 0.1%, revised from a 0.3% fall. Economists had expected a 0.4% increase.
On a year-on-year basis, retail sales increased 1.1% in November after a 5.2% rise in October, revised from 5%. Economists were looking for a 0.4% fall.
Among other major markets in Europe, the U.K. and France are down marginally, while Switzerland is trading notably lower.
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