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DAX Drifts Lower As Automakers Retreat On Trade Woes

German stocks fell on Thursday after three days of trade negotiations between mid-level American and Chinese officials ended in Beijing without significant breakthroughs.

Investors also pondered over Brexit risks and the Fed's future path of interest rate increases.

In the U.K., the Parliament has agreed that the government must come up with a new Brexit plan within three days if Prime Minister Theresa May's current proposal is voted down.

The benchmark DAX was down 66 points or 0.61 percent at 10,827 in opening deals after climbing 0.8 percent in the previous session.

Automaker Daimler shed 0.7 percent, BMW dropped 1.3 percent and Volkswagen declined 0.6 percent.

Südzucker rallied 3.1 percent after confirming its FY forecast.

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