BRUSSELS (dpa-AFX) - The German market is down marginally a little past noon on Tuesday with investors mostly making cautious moves, continuing to follow the progress in Ukraine peace talks, and awaiting a fresh batch of economic data from the U.S. for direction.
Data showing stagnation in German economic growth in the third quarter hurt a bit, while expectations of an interest rate cut by the Federal Reserve in December help limit market's downside.
The benchmark DAX was down 5.85 points or 0.03% at 23,247.23 a little while ago.
Continental, Heidelberg Materials, Rheinmetall and Infineon Technologies are gaining 1.2 to 1.75%.
Merck is up nearly 1%. MTU Aero Engines, Commerzbank, Deutsche Telekom, Daimler Truck Holding, Deutsche Boerse, Porsche Automobil Holding and Qiagen are advancing by 0.4 to 0.9%.
Symrise is down nearly 2%. Bayer, SAP, Scout24, RWE and Vonovia are down 1 to 1.4%.
Zalando, Siemens Energy, Brenntag, BASF, Deutsche Post, BMW and Hannover Rueck are down with modest losses.
Revised data from Destatis showed the German economy stagnated in the third quarter as growth in investment was offset by the weakness in exports.
The statistical office confirmed that gross domestic product remained unchanged on a quarterly basis, following a decline of 0.2% in the second quarter.
The expenditure-side of GDP showed that gross fixed capital formation increased 0.3%, following the decline in the previous quarter. Investment in equipment, primarily machinery, tools and vehicles grew 1.1% from a quarter ago. On the other hand, construction investment fell 0.5%.
Overall consumption remained flat in the third quarter. Private consumption declined 0.3%, which was the first fall since the fourth quarter of 2023 as households spent less on restaurants and accommodation services. By contrast, government spending advanced 0.8% from a quarter ago.
Foreign trade provided no positive impetus to the growth. Exports of goods and services were down 0.7%, while imports remained flat from the previous quarter.
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