(RTTNews) – German stocks edged lower in cautious trade on Monday ahead of upcoming Christmas holidays.
On a light day on theeconomic calendar Germany’s import prices increased for the first time in three months in November, data from Destatis showed.
Import prices registered an annual increase of 0.6 percent, reversing a 0.8 percent decrease in October.
Month-on-month, import prices grew 0.9 percent, after rising 0.6 percent in the previous month. The expected rise was 0.5 percent.
Meanwhile, export price inflation accelerated to 1.2 percent from 0.6 percent a month ago. On a monthly basis, export prices increased at a stable pace of 0.3 percent.
The benchmark DAX was down 54 points, or 0.3 percent, to 19,831 after declining 0.4 percent in the previous session.
Knorr-Bremse AG shares fell more than 1 percent. The brake systems manufacturer has officially sold its U.S. subsidiary Sheppard to Balmoral RHS Acquisition Corp., streamlining its focus on braking technologies and operational growth.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
