(RTTNews) – German stocks were little changed in lackluster trade on Friday as investors awaited Eurozone fourth-quarter GDP data for direction.
Preliminary figures from Destatis showed earlier in the day that German economy stagnated in the fourth quarter of 2019 amid slower consumption and weaker exports.
GDP was unchanged from the previous quarter on a seasonally and calendar-adjusted basis. Economists had forecast 0.1 percent growth. The third quarter growth was revised up to 0.2 percent from 0.1 percent.
Concerns over the coronavirus outbreak eased somewhat after the World Health Organization said the dramatic increase in the number of coronavirus cases in China’s Hubei province is due to a change in the way suspected cases are diagnosed and reported.
The executive director of the WHO’s Health Emergencies Program, Michael Ryan, said the cases are not based on a clinically confirmed instance, but on lesser symptoms exhibited by patients.
The benchmark DAX was down 5 points at 13,740 after finishing marginally lower on Thursday.
Wirecard shares declined 1.3 percent. The provider of electronic payment and risk management applications reiterated its 2020 guidance after reporting strong quarterly results.
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