BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks were moving lower on Thursday, with concerns of slowing global growth and caution ahead of the European Central Bank's policy meeting weighing on sentiment.
Meanwhile, German exports growth eased in July and imports declined for the first time in three months, data from Destatis showed.
Exports grew 0.5 percent on a monthly basis, as expected, following a 1.3 percent rise in June. At the same time, imports dropped unexpectedly by 3.8 percent, reversing June's 0.7 percent increase.
On a yearly basis, exports climbed at a slower pace of 12.4 percent after rising 23.6 percent in June. Likewise, growth in imports eased to 16.6 percent from 27.1 percent in the previous month.
The benchmark DAX was down 51 points, or 0.3 percent, at 15,559 after tumbling 1.5 percent in the previous session. Earlier in the day, the index hit over a one-month low.
Germany's Merck KGaA shares rallied 2 percent. The chemicals company expects Group sales to grow organically by more than 6 percent annually on average up to 2025.
Drug delivery devices maker Gerresheimer AG was slightly lower. The company said its Supervisory Board prematurely extended the contract of Chief Financial Officer Bernd Metzner, aged 50, by a further five years until May 2027.
Travel stocks fell, with airline Lufthansa losing nearly 2 percent.
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