BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks were holding steady on Wednesday despite a measure of German business morale pointing to weakening economic growth in Europe's largest economy.
The Ifo economic institute's business climate index dropped to 99.2 in April from an upwardly revised 99.7 in the previous month.
The benchmark DAX was down 21 points or 0.17 percent at 12,256 after closing up 0.1 percent the previous day.
Automakers BMW, Daimler and Volkswagen fell between 0.3 percent and 0.9 percent after Nissan Motor lowered its profit forecast for the fiscal year through March amid slowing sales and the fallout from the criminal investigation of its former chairman, Carlos Ghosn.
Deutz AG rallied 3.8 percent after its preliminary operating profit for the first quarter of 2019 climbed 15.7 percent from last year.
Wirecard soared 7 percent after it signed a binding term sheet, under which Japanese conglomerate SoftBank Group Corp. will invest approximately 900 million euros through convertible bonds.
Software company SAP also jumped 7 percent after raising its operating profit outlook.
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