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.
To contact the editor responsible for this story: Andrew Rummer at firstname.lastname@example.org