On Friday morning, German stocks have descended into negative territory as investors analyze the latest unemployment figures from the nation. Sentiment remains cautious, driven by enduring concerns over geopolitical tensions in the Middle East and the prospect of increased U.S. tariffs.
The DAX, a key benchmark, has fallen by 66.50 points, equating to a decrease of 0.33%, settling at 19,958.16. This figure is approximately 40 points above its earlier low of 19,918.64.
Data from Destatis, released on Friday, reveals that Germany's unemployment rate remained steady in November. The adjusted unemployment rate stood at 3.4%, consistent with October's figure. On a monthly basis, the number of unemployed individuals decreased by 2,000, totaling 1.52 million.
On an unadjusted scale, unemployment witnessed an increase of 138,000, or 10.1%, from the prior year. Consequently, the jobless rate rose to 3.3%, up from last year's 3.1%.
Additionally, Destatis reports that employment figures remained largely unchanged in November compared to the previous year, marking the third consecutive month of stability at the previous year's levels.
Among individual companies, Infineon is experiencing a decline of nearly 2%, while MTU Aero Engines is down by 1.4%, and BASF has dropped by approximately 1.1%.
Market fluctuations also show BMW, Volkswagen, SAP, Siemens, Porsche, Rheinmetall, Zalando, Brenntag, Fresenius, and HeidelbergCement experiencing decreases ranging from 0.5% to 1%.
Conversely, RWE is witnessing a rise of 1.7%. Meanwhile, Deutsche Telekom, Deutsche Bank, Munich RE, Allianz, and Hannover Ruek are posting gains between 0.3% and 0.8%.
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