By RTT News, October 21, 2013, 06:19:00 AM EDT
(RTTNews.com) - German stocks eased slightly on Monday as traders adopted a cautious stance ahead of the highly-anticipated U.S. nonfarm-payrolls report due on Tuesday. The September jobs report along with a batch of U.S. data due out this week may provide further clues about how long the U.S. Federal Reserve will maintain its easy monetary policy.
The Asian markets ended mostly higher, with Chinese shares pacing the gainers after the Chinese Cabinet urged the local governments and state departments to implement the planned economic reforms and restructuring measures to help the economy recover from the recent lull. Trading in the U.S. index futures indicate a higher open amid speculation the Fed will delay its stimulus tapering until March next year.
The German DAX, which hit a record high last week, is currently down 8 points or 0.1 percent at 8,856. France's CAC 40 is moving down 0.3 percent, but the U.K.'s FTSE 100 is gaining 0.1 percent.
Deutsche Bank is losing 1.8 percent on a report that the lender has broadened its investigation into possible manipulation of the Libor benchmark interest rates.
Daimler is declining 0.2 percent after launching its Mercedes-Benz S-Class in all of its key markets.
SGL Carbon SE is rising 2 percent after the firm said it would close its Canadian graphite electrode facility located in Lachute, Quebec by the first quarter of 2014.
SAP AG is rallying 4 percent. The business software maker reiterated its outlook for full year 2013 after reporting a 23 percent increase in its third-quarter profit.
Evotec is climbing 4.3 percent. The company announced that it has signed an agreement with AstraZeneca to explore compounds and targets with novel mechanisms that have disease-modifying potential for the treatment of chronic kidney diseases.
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