Breaking News

Bank of New York Mellon to Exit Derivatives Sales, Trading
Tweet TWEET

German Stocks Little Changed Before U.S. Company Payrolls

German stocks were little changed as investors awaited a private report on U.S. company payrolls and as data showed exports increased less than forecast in Europe’s biggest economy.

K+S AG (SDF) climbed 3.8 percent after Kepler Cheuvreux raised its rating on the potash producer. SAP AG (SAP) advanced 1.1 percent as UBS AG recommended that investors buy the stock. Kion Group AG (KGX) fell 2 percent as Goldman Sachs Group Inc. and KKR & Co. sold 10.7 million of the forklift maker’s shares to institutional investors.

The DAX Index (DAX) gained less than 0.1 percent to 9,507.25 at 10:09 a.m. in Frankfurt. The index rallied 25 percent in 2013 as the European Central Bank pledged to keep interest rates low for a prolonged period and better-than-forecast data signaled a recovery in the U.S. economy. The broader HDAX Index also rose less than 0.1 percent today.

The volume of shares changing hands in DAX-listed companies was 57 percent greater than the average of the last 30 days, according to data compiled by Bloomberg.

The ADP Research Institute’s report due at 8:15 a.m. New York time may show that U.S. companies added 200,000 employees in December, according to the median estimate of economists surveyed by Bloomberg. They hired a net 215,000 in November, the most in a year. The Labor Department on Friday will publish data on payrolls and the unemployment rate for December.

The Federal Reserve will release the minutes of its last meeting in December after European markets close today.

German exports rose 0.3 percent in November, the Federal Statistics Office in Wiesbaden said. That missed the 0.8 percent increase predicted by economists in a Bloomberg survey. Imports fell 1.1 percent in the same month, compared with the 0.7 percent-gain median forecast.

To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net

To contact the editor responsible for this story: Cecile Vannucci at cvannucci1@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.