DAX Inches Higher On Mixed Data
(RTTNews) - German stocks traded higher on Monday after data showed Germany's exports and imports rebounded in November.
Exports posted a monthly growth of 3.7 percent, reversing a fall of 0.4 percent in October, Destatis reported. Shipments were expected to rise moderately by 0.3 percent.
Likewise, imports gained 1.9 percent, following a 1.1 percent decrease. Economists had forecast a 0.2 percent rise.
Year-on-year, exports decreased 4.9 percent, the same pace of drop as logged in October. At the same time, the annual fall in imports softened to 12.1 percent from 14.3 percent.
Separate data revealed that Germany's factory orders rose less than expected in November.
Orders climbed 0.3 percent on a monthly basis in November, in contrast to the revised 3.8 percent decline in October. But the pace of expansion was weaker than the expected rate of 1.0 percent.
On a yearly basis, new orders declined 4.4 percent after a 7.3 percent decrease.
The benchmark DAX was up 34 points, or 0.2 percent, at 16,628 after closing 0.1 percent lower on Friday.
Evotec, a drug discovery and development company, climbed 1.1 percent after announcing progress within the strategic partnership with Bristol Myers Squibb.
Bayer rose half a percent as it reported positive top-line results of the Phase III studies OASIS 1 and 2 evaluating the efficacy and safety of the investigational compound elinzanetant versus placebo.
Boeing shares listed in Frankfurt slumped 6.5 percent after the Federal Aviation Administration (FAA) ordered airlines to temporarily ground some Boeing 737 Max 9 planes for safety inspections.
