German Market Down Marginally On Weak Economic Data, Rising Bond Yields

(RTTNews) - German stocks are showing weakness on Tuesday, weighed down by higher bond yields, and data showing another drop in the nation's factory orders. Investors also continue to follow the political developments in France where Prime Minister Sebastien Lecornu, who resigned on Monday, has been asked to continue negotiations with other political parties to try and end the current crisis.

Following the political uncertainty in France, bond yields across Europe have risen. The German 10-year bond yield has risen to over 2.73%.

Data from Destatis showed German factory orders decreased 0.8% on a monthly basis in August, following a 2.7% decrease in July. This was in contrast to the anticipated increase of 1.2%. Excluding large orders, new orders were 3.3% lower than in the previous month.

The benchmark DAX was down 24.24 points or 0.1% at 24,371.99 a little while ago.

Bayer is down 4.3%. Infineon Technologies, BMW, Heidelberg Materials, Merck and Commerzbank are down 1 to 1.4%.

Fresenius, Deutsche Post, Continental, Mercedes-Benz and Rheinmetall are also notably lower.

Meanwhile, SAP is up 1.3%, Scout24 is gaining 1.1%, Adidas is rising nearly 1% and Symrise is up 0.9%. Hannover Rueck and Beiersdorf are up with moderate gains.