German Stocks Decline as Investors Await Euro-Area Data
German stocks declined for a second day as investors awaited a report that may confirm the combined economy of the euro area expanded last quarter.
Deutsche Lufthansa AG (LHA), Europe’s second-largest airline, retreated 3.2 percent as a gauge of travel and leisure shares fell the most on the Stoxx Europe 600 Index. K+S AG (SDF) advanced 1.6 percent as Macquarie Research upgraded the potash producer.
The DAX (DAX) slipped 0.3 percent to 8,160.02 at 9:42 a.m. in Frankfurt. The measure lost 3.7 percent last week on concern the U.S. will take military action against Syria for deadly chemical-weapons attacks. The broader HDAX Index also retreated 0.3 percent today.
A report at 11 a.m. in Luxembourg will confirm that second-quarter gross domestic product in the 17-nation euro area grew 0.3 percent from the previous three-month period and fell 0.7 percent from a year earlier, according to the median estimates of economists in a Bloomberg News survey.
Separate reports will probably show services activity in the euro area, based on a survey of purchasing managers, expanded in August and retail sales increased in July from June.
The Bank of England and the European Central Bank will announce interest rate decisions tomorrow.
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