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European shares open mixed after German industrial production data

2019-08-07 07:51 am | Resource: News | No Views : 20

European shares open mixed after German industrial production data

European markets were mixed in early trade on Wednesday after the German Census Bureau said that industrial production in the country fell 1.5% in June, and that E.ON, Wirecard, Commerzbank, Unicredit, Toshiba and Softbank posted quarterly profits during the quarterly quarterly results.

Traders remain focused on China-US relations and trade war, with China setting the yuan's value at 6.9996, lower than the market had expected.

German industrial production fell 1.5% in June

Industrial production in Germany fell 1.5% in June from the previous month on a seasonally adjusted basis, the German Federal Statistical Office said on Wednesday. On an annual basis, the figure was 5.2% lower, adjusted for price and calendar changes.

Excluding energy and construction, production in the euro zone's largest economy in June fell 1.8% month-on-month. Capital goods production fell 1.8%, consumer goods production grew 1.4%, while intermediate goods production fell 2% on a monthly basis.

Meanwhile, energy production fell 1.6%, but production in construction rose 0.3%, according to the report.

European stock openings
  • The DAX rose 0.52% at 9:23 CET. Bayer led the increase.
  • The CAC 40 rose 0.33% at 9:09 CET.
  • The British FTSE 100 lost 0.18% at 9:24 CET.

The EUR was steady against the USD, as it changed 0.03% in the red at 1.11958 at 9:31 AM CET. The pound was up 0.06% to 1.21744 against the US currency at 9:32 CET.


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