German Stocks Little Changed as Investors Await U.S.Data
German stocks were little changed as China’s manufacturing expanded for the first time in three months, and investors awaited reports that may show U.S. consumer confidence improved in October, while manufacturing growth probably slowed.
Bayerische Motoren Werke AG (BMW) advanced 1.5 percent after Citigroup Inc. upgraded the stock, and Volkswagen AG (VOW) gained 1.1 percent as a gauge of European carmakers advanced. Fresenius Medical Care AG dropped 1.4 percent as Piper Jaffray & Co. downgraded its recommendation on the shares.
The DAX Index added less than 0.1 percent to 7,262.02 at 10:42 a.m. in Frankfurt. The equity benchmark has rallied 22 percent from this year’s low on June 5 as the European Central Bank approved an unlimited bond-buying program and the U.S. Federal Reserve started a third round of asset purchases. The broader HDAX Index also rose less than 0.1 percent today.
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