German stocks experienced a slight decline in cautious trading on Monday as the markets approached the Christmas holidays. On a relatively quiet day for economic announcements, data from Destatis revealed that Germany's import prices rose for the first time in three months during November.
The data indicated an annual increase of 0.6% in import prices, overturning a previous 0.8% decrease in October. On a month-to-month basis, import prices rose by 0.9%, up from a 0.6% increase noted the month before and surpassing the anticipated 0.5% growth.
In contrast, export price inflation saw an acceleration, climbing to 1.2% from the previous month's rate of 0.6%. On a monthly comparison, export prices maintained a steady increase of 0.3%.
The DAX index, a key benchmark, decreased by 54 points or 0.3%, landing at 19,831, following a 0.4% decline seen in the prior trading session.
Shares of Knorr-Bremse AG dropped by more than 1%. The brake systems manufacturer has officially completed the sale of its U.S. subsidiary, Sheppard, to Balmoral RHS Acquisition Corp. This move allows the company to sharpen its focus on braking technologies and enhance operational growth.
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