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DAX Drifts Lower In Cautious Trade

German stocks fell after a flat start on Friday as investors braced for an escalation of the tit-for-tat trade war between the world's two largest economies and looked ahead to the release of U.S. jobs report for possible clues on interest rates.

The benchmark DAX was down 25 points or 0.20 percent at 11,931 after losing 0.7 percent the previous day.

On the data front, German industrial production fell 1.1 percent month-on-month in July, in contrast to a 0.2 percent rise economists had forecast, official data showed. Production decreased 0.7 percent in June.

Germany's exports declined for the first time in three months in July, while imports grew at a faster pace, another report showed.

Exports fell 0.9 percent sequentially in July, reversing June's 0.1 percent rise. This was the first fall in three months.

Eurostat confirmed its first estimate that the euro zone economy grew at
0.4 percent sequentially in the second quarter. The annual figure has been revised to 2.1 percent from an initial 2.2 percent.

by RTTNews Staff Writer

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