German equities rose on positive reatil sales data

Note: This section contains information in English only.
Source: Dukascopy Bank SA

German equities advanced on Wednesday on encouraging headlines from the US jobs market. Boosting German equities further, eurozone's retail sales grew 0.1% in August, confronting expectations of a 0.1% decline. However, dismal data from German services sector created heavy pressure on the stock index. German services PMI contracted to 49.7 last month compared to a preliminary reading of 50.6. The DAX Index climbed 0.21% and is currently trading at 7,321.47. Four in nine sectors included in the index rose. The best-performers were telecommunications and utilities. Deutsche Telecom added 0.81% while E.ON and RWE gained 0.21% and 1.42%. Dragging German blue chips lower, financials and consumer services retreated.

 

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