Market Commentary and Intraday News
German Shares Little Changed At Mid-day
198 days ago
(RTTNews) - German shares are posting modest gains on Thursday, as investors reacted cautiously to upbeat Chinese manufacturing data. With the region's debt woes continuing and the American Election Day fast approaching, investors are cautiously optimistic over global growth prospects.
Commodities such as crude and copper are edging higher, while trading in the U.S. index futures point to a lower start ahead of the ADP employment report and data due on jobless claims and manufacturing activity. The all-important monthly jobs report is due on Friday. Elsewhere in Asia, stocks turned in a mixed performance following the release of a pair of conflicting manufacturing reports from China and Australia.
Closer home, the benchmark German DAX is currently up 5 points or 0.08 percent at 7,265, while key benchmark indexes in Switzerland, France and the U.K. are moving up between 0.1 percent and 0.2 percent.
In stock-specific action, banking stocks are gaining ground with Commerzbank rising 0.7 percent, while Deutsche Bank is up marginally. Automakers are also trading in positive territory. Daimler is moving up 0.9 percent, BMW is rallying 1.6 percent and Volkswagen is up a percent.
Fraport is gaining 1.2 percent on reports the airport operator plans to sell its entire 10 percent interest in Delhi airport by the second or third quarter of next year.
ProSiebenSat.1 is edging up 0.2 percent following reports that the private broadcaster has chosen three bidders for the next round in the sale of its Scandinavian businesses.
Salzgitter is declining 0.6 percent after executive-board member Johannes Nonn reportedly offered to quit his job to become chief of competitor Schmolz + Bickenbach.
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