German Stocks Are Little Changed Before U.S. Data

German stocks were little changed, with the benchmark DAX Index (DAX) heading for a weekly drop, as investors awaited a report on U.S. consumer sentiment.

ThyssenKrupp AG (TKA) fell 3.5 percent amid concern Germany’s largest steelmaker has failed to make progress in talks to sell its plants in the Americas.

The DAX Index added less than 0.1 percent to 8,299.8 at 9:50 a.m. in Frankfurt, after earlier rising as much as 0.8 percent. The gauge has retreated 0.4 percent this week as some companies posted worse-than-estimated results. The broader HDAX Index was also little changed today.

In the U.S., a report at 9:55 a.m. New York time may show consumer confidence slipped this month. The Thomson Reuters/University of Michigan index of consumer sentiment dropped to 84 from 84.1 in June, according to the median estimate of economists surveyed by Bloomberg. The initial reading was for 83.9.

To contact the reporter on this story: Jonathan Morgan in Frankfurt at jmorgan157@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.