DAX Down Nearly 1% Ahead Of Key U.S. Economic Data

(RTTNews) - German stocks are notably lower on Thursday, weighed down by concerns about the outlook for Fed interest rates, and caution ahead of some key economic data from the U.S., including a report on GDP and inflation.

The benchmark DAX was down 205.40 points or 0.87% at 23,476.30 a little while ago.

Siemens Healthineers is down more than 4.5%. Siemens Energy is lower by about 3.5% and Heidelberg Materials is declining by about 3%.

Adidas, Merck, Brenntag, GEA Group, Siemens, Qiagen, MTU Aero Engines and Fresenius Medical Care are down 1.2 to 2.5%. Rheinmetall and Deutsche Bank are down nearly 1% from previous closing levels.

Commerzbank is rising nearly 2.5%. Continental is up 1.7%, Hannover Rueck is gaining 1.3%, Porsche Automobil Holding is up 1.2% and BMW is advancing 1.1%.

RWE, Deutsche Post, E.ON, Beiersdorf, Mercedes-Benz and Deutsche Bank are up with moderate gains.

German consumer confidence is set to improve slightly in October halting its downward trend as income expectations strengthened, a closely watched survey data showed.

The forward-looking consumer confidence index rose to -22.3 in October from revised -23.5 in the previous month. The reading was seen at -23.3.

Data from the European Automobile Manufacturers' Association, ACEA, showed new car registrations in Europe saw an annual increase of 5.3% in August compared to a 7.4% rise in July. This was the second straight month of growth.

However, EU car registrations edged down 0.1% in the year-to-date period.