DAX Falls On China Data
(RTTNews.com) - German stocks fell on Monday after China's exports and imports in December declined at the worst rates in two years, adding to evidence of a rapid slowdown in the economy amid the trade war with the U.S. and weakening global activity.
Investors also closely watched Brexit developments ahead of a historic House of Commons vote.
The benchmark DAX was down 50 points or 0.46 percent at 10,837 in opening deals after declining 0.3 percent on Friday.
Continental AG slid half a percent. The automotive supplier and tire manufacturer expects consolidated sales for fiscal 2019 to be in the range of about 45 billion euros to 47 billion euros.
Siemens was also losing half a percent amid reports that Germany's antitrust authority has opposed the planned merger of the rail operations of Siemens and France'sAlstom.
Volkswagen, which is facing recall of more cars due to its emissions scandal, gained 0.6 percent.
Dialog Semiconductor rallied 3 percent. The company reported Q4 revenue of US$431 million, within the October guidance range.
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