German Stocks Are Little Changed Before Industrial Data

German stocks were little changed, with the benchmark DAX (DAX) Index heading for a sixth straight weekly advance, as investors awaited U.S. industrial-output data.

K+S AG (SDF) increased 1.2 percent after Bankhaus Lampe KG upgraded the shares. SAP AG, the largest maker of business-management software, rose 1 percent after Barclays Plc raised its recommendation on the stock. Deutsche Lufthansa AG (LHA) climbed 1.2 percent after the airline said sales of first-class tickets have risen more than 10 percent.

The DAX fell 0.1 percent to 9,141.45 at 9:29 a.m. in Frankfurt. The gauge has risen 0.7 percent this week after gaining 0.8 percent last week when better-than-forecast U.S. economic growth and payrolls data was published. It has surged 20 percent this year as central banks around the world pledged to leave interest rates low for a prolonged period. The broader HDAX Index was also little changed today.

Manufacturing in the New York region grew at a faster pace in November after slowing for three consecutive months, according to the median economist projection in a Bloomberg survey. The Federal Reserve Bank of New York’s index probably rose to 5, rebounding from a five-month low. Positive readings signal expansion in New York, northern New Jersey and southern Connecticut.

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

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