BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks fell on Monday as investors locked in some profits after strong gains last week on hopes of a swift economic recovery from the coronavirus pandemic. Weak industrial output data also weighed on markets.
German industrial production declined at the fastest rate since the series began in 1991, data from Destatis showed.
Industrial output decreased 25.3 percent year-on-year in April, following an 11.3 percent fall in the previous month. This was the biggest fall on record.
Month-on-month, industrial production plunged 17.9 percent versus a revised 8.9 percent drop in March. Economists had forecast a monthly fall of 16 percent.
The benchmark DAX dropped 82 points, or 0.65 percent, to 12,764 after rallying 3.4 percent on Friday.
Card payments company Wirecard lost 3 percent. The company said it is cooperating with authorities investigating it over possible market manipulation.
Automakers were moving higher despite the automotive industry reporting a sharp decline of 74.6 percent in output in April.
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