DAX Slides On Trade Worries

(RTTNews) - German stocks declined on Friday as investors remained wary of setbacks to a U.S.-China trade deal and data showed private consumption in Europe's largest economy took a pause before the Christmas shopping season.

The benchmark DAX dropped 0.4 percent to 13,190 after closing 0.3 percent lower the previous day.

Electric utility E.ON rose 0.8 percent. The company lifted its full-year guidance despite reporting a fall in nine-month adjusted net income.

In economic releases, Germany retail sales grew at a much slower pace in October, data from Destatis revealed.

Retail sales grew only 0.8 percent annually after expanding 3.4 percent in September. Economists had forecast an annual growth of 3 percent. Nonetheless, this was the fourth consecutive increase in sales.

Sale of food, beverages and tobacco gained 0.3 percent while non-food product sales were up 1 percent.

On a monthly basis, retail sales fell 1.9 percent, confounding expectations for an increase of 0.2 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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