(RTTNews.com) – German shares recouped early losses on Wednesday, as investors took weak German industrial output data in their stride and looked ahead to Thursday’s ECB meeting for direction.
Germany’s industrial production fell by the most in almost two years in July, data from Destatis showed with output declining 1.5 percent from the previous month, confounding expectations for an increase of 0.1 percent. However, production in June was revised up to 1.1 percent from 0.8 percent.
The benchmark DAX was up 37 points or 0.35 percent at 10,724 in late opening deals after closing 0.1 percent higher on Tuesday.
Pharmaceutical and chemical company Bayer traded marginally lower, a day after lifting its offer for Monsanto.
Lufthansa fell over 3 percent after Deutsche Bank cut its rating on the stock.
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