German equities advance despite disappointing Eurozone data

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Source: Dukascopy Bank SA
© scanpix/reuters
European equities trimmed gains today, as Eurozone retail sales fell sharply in October and Spanish debt auction showed disappointing results. The retail sales lost 1.2%, considerably more than the forecast 0.1% decline. However, investor confidence continued to improve on slow resolution of the Euro-area's crisis. The German DAX index increased 0.05% to 7,439.10 by 15:47 GMT. Only two out of nine sectors shrank with Technology loosing 0.77% and Consumer Goods erasing 0.36%. The sectors that advanced the most were Utilities, Financials and Telecommunications with 0.91%, 0.89% and 0.78% increases. Technology shrank the most by declining 0.77%. The top performers were ThyssenKrupp, Comerzbank and Deutsche Post by rising 3.08%, 1.44% and 1.42% respectively. Shares of Volkswagen dropped the most, after it announced its plans to invest additional €840 in car production in Russia, as it aims to expand its presence outside Europe.


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