German shares little changed amid economic data release from the U.S. and Eurozone

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Source: Dukascopy Bank SA
German shares slightly increased, as gains were capped by data on the industrial production in the Euro-area that edged lower and underperformed the estimates. However, optimism on the U.S. economy was raised as U.S. retail sales rose more-than-expected in February. Four out of nine sectors edged higher. Beiersdorf AG rallied 1.2% to 69.28 euros after earlier trading at 69.65 euros. The rise in cosmetic producer's shares erased losses in consumer goods group as it stayed unchanged. Furthermore, Henkel AG surged 1.2%, also supporting consumer goods. SAP AG lifted tech shares higher for the biggest rally on the DAX. The multinational company climbed 1% to trade at 63.99 euros. Meanwhile, Commerzbank AG slumped to its lowest level in four months after announcing a share sell-off to repay the government that currently owns a 25% stake, as well as Allianz SE.

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Wed, 13 Mar 2013 16:25:30 GMT

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