DAX

Source: Dukascopy Bank SA
© Dukascopy Bank SA
German shares stayed little changed  after data showed the U.S. economy added more-than-expected jobs, offsetting Bundesbank's intent to lower economic growth forecast for the next year. The nation's equities inched lower earlier as the Bundesbank downgraded the growth rate for to 0.4 % from its June's forecast of 1.6%. In addition, the industrial output fell 2.6% in October on shrinking construction activity and production of investment goods. The DAX index surged 0.1% to 7,539.97, after rallying 1.1% the day before, led by Technology, Industrials and Basic Materials that gained 0.35%, 0.31% and 0.27%. Among the best performers were Beiersdorf, Volkswagen and BMW by increasing 0.63%, 0.57% and 0.51%. The gains in equities were capped by Telecommunications that lost 2.37% and  Consumer Services that eased 1.40%. Deutsche Telekom tumbled 2.3% to 8.38 euros after it announced it would lower the company's dividend to 50 cents per share in 2013 and 2014, down 29 cents from the promised 70 cents. Meanwhile, ThyssenKrupp dropped 0.9% to 16.28 euros on speculation it will decline the payout to shareholders next week, while Deutsche Lufthansa slipped 1.4% to 13.41 euros.


© Dukascopy Bank SA
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