German Stocks Little Changed Before U.S. Goods Report

German stocks were little changed, after two days of gains, as investors awaited data on U.S. durable goods.

Telefonica Deutschland Holding AG surged 6 percent after Royal KPN NV won the support of minority shareholder America Movil SAB for the sale of KPN’s German business to Telefonica.

The DAX Index (DAX) added 0.1 percent to 8,427.84 at 9:26 a.m. in Frankfurt. The DAX gained 0.3 percent last week and has rallied 9.6 percent since June 24 as the European Central Bank said that its interest rates will remain low for an extended period of time. The broader HDAX Index rose 0.1 percent today.

The volume of shares changing hands in DAX-listed companies was 68 percent lower than the average of the last 30 days, according to data compiled by Bloomberg.

In the U.S., data today may show orders for durable goods fell 4 percent in July, according to the median estimate in a Bloomberg survey of 64 economists. The Commerce Department report is due for release at 8:30 a.m. in Washington.

To contact the reporter on this story: Tom Stoukas in Athens at astoukas@bloomberg.net

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

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