DAX Dips On Growth Concerns

German stocks fell on Monday as surging oil prices fed inflation concerns and weak data from China kept worries around slowing economic growth alive.

Oil prices hit new multi-year peaks, adding to fears over surging inflation.

Data showed earlier in the day that China's economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks and major wobbles in the property market.

The benchmark DAX dropped 82 points, or half a percent, to 15,505 after climbing 0.8 percent on Friday.

TeamViewer edged up slightly. The software firm that cut its full-year earnings guidance this month, said finance chief Stefan Gaiser's contract would not be renewed when it expires next year.

At the same time, Chief Executive Oliver Steil's contract will be extended for three years to October 2024.

For comments and feedback contact: editorial@rttnews.com

Follow RTT