German stocks displayed a slight downturn on Thursday morning. Despite positive data indicating a rise in national industrial production for November, recent underwhelming figures regarding factory orders and retail sales, alongside concerns over potential U.S. tariff increases, have weighed down the market.
The DAX 30 index has slipped by 44.40 points, equivalent to 0.22%, now sitting at 20,272.35.
Notable declines include Munich RE and Porsche, both down by 2.2% and 2.1%, respectively. Other companies experiencing a decline of 1 to 2% include Deutsche Post, Zalando, Continental, BMW, and Mercedes-Benz. E.ON, Brenntag, Infineon, Rheinmetall, RWE, Volkswagen, BASF, Allianz, Merck, and Hannover Rueck have also shown weakness.
Lufthansa, Hugo Boss, and Kion Group have seen declines between 2 to 2.5%.
Conversely, Siemens Energy has risen by 2.2%. Commerzbank has increased by 1.6%, while Sartorius and Beiersdorf show respective gains of 1.3% and 1.1%. Fresenius, Deutsche Bank, Vonovia, Qiagen, Deutsche Telekom, and Daimler Truck Holding have also registered notable gains.
TeamViewer, which posted substantial gains the previous day, is up by 2.7% this morning. HelloFresh, Nordex, and Puma are also significantly higher.
Preliminary statistics from Destatis indicate that Germany’s industrial output advanced by 1.5% on a month-to-month basis in November, contrasting the revised 0.4% fall in October. Expectations were set for a moderate increase of 0.5%. However, industrial production remained 2.8% lower than in November 2023, improving from a 4.2% drop in the previous month.
Germany's exports witnessed a 2.1% month-on-month increase after a 2.9% decline in October, exceeding the predicted 2% rise. Conversely, imports saw a worsened decline of 3.3%, as opposed to the 0.3% decrease in October, defying economists’ projections of a 0.7% growth.
As a result, the trade surplus grew to EUR 19.7 billion in November from EUR 13.4 billion in October.
On an annual basis, exports decreased by an unadjusted 6.5% following a 0.4% rise, while imports fell by 5.2% after previously gaining 4.3%.
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