Stocks in EU lower after weaker factory orders data

Monday, 07. March 2016 09:54

Major European stocks traded lower after Destatis reported German adjusted new factory orders fell 0.1% in January, following a 0.2% decrease in the previous month, while domestic orders shrunk 1.6%.

The DAX fell 0.7% to 9,753 points. Volkswagen was the worst performer, plunging 2.97%, followed by BASF’s 2.24% decrease and RWE AG’s 1.24% decline (all 9:36 a.m. CET). RWE last week named a management team that will be in charge of a new subsidiary. The energy company plans to transfer its renewable power assets, along with its grids and retail operations in the country, to the new facility.

The FTSE 100 was 0.4% down at 6,174 points. Randgold resources was pulling the index down, dropping 2.87%. Glencore was among the worst performers, falling 0.88%, while the banking sector followed in losses. (all 9:36 a.m. CET).

The euro lost 0.46% versus the dollar, appreciated 0.11% against the British pound and added 0.1% against the Swiss franc (all 9:54 a.m. CET).

Related Links: Randgold Resources LimitedVolkswagen AG
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