DAX Little Changed In Lackluster Trade; Banks Gain
(RTTNews) - German stocks were little changed on Monday after China's GDP data for the second quarter came in below estimates, raising concerns about recovery in the world's second-largest economy.
The benchmark DAX was down 13 points at 16,091 after declining 0.2 percent on Friday. Eurozone bond yields treaded water while the dollar index stabilized after having fallen over 2 percent last week to touch its weakest level since April.
Banks traded higher, with Commerzbank and Deutsche Bank rising around 1 percent each. Medical and safety technology provider Draegerwerk AG & Co. KGaA edged up slightly.
The company reported that its preliminary net sales for the second quarter of 2023 increased 18.1 percent year-over-year to about 771 million euros, while it was up 21.1 percent at net of currency effects.
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