Markets

DAX Little Changed After Weak China Data

(RTTNews) - German stocks were little changed in cautious trade on Wednesday as weaker-than-expected Chinese retail sales and industrial output data clouded the outlook for economic growth.

The benchmark DAX held largely steady at 15,728 after closing 0.1 percent higher on Tuesday.

Brenntag SE dropped half a percent. The chemical distribution company again raised operating EBITDA outlook for the financial year 2021.

Shares of zooplus AG fell 2.7 percent as financial investor KKR terminated discussions regarding a potential voluntary public takeover offer for the German online pet platform.

Travel and leisure stocks declined, with airline Lufthansa falling nearly 1 percent on concerns about the spread of COVID-19 cases in China.

China tightened lockdowns and increased orders for mass testing in cities along its east coast today amid the latest surge in coronavirus cases.

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