Bloomberg News

German Stocks Erase Advance; BASF, Bayer, Adidas Shares Decline

January 06, 2012

Jan. 6 (Bloomberg) -- German stocks erased their gains, trimming the DAX Index’s third straight weekly advance, as BASF SE and Bayer AG declined.

The DAX slipped 0.2 percent to 6,086.56 at 3:05 p.m. in Frankfurt, having earlier advanced as much as 0.9 percent after a report showed U.S. payrolls topped forecasts. The wider HDAX Index was little changed today.

The DAX has increased 20 percent from last year’s lowest level on Sept. 12 as U.S. economic data showed the recovery is gathering pace and optimism grew that euro-area policy makers will contain the region’s debt crisis.

German factory orders, adjusted for seasonal swings and inflation, sank 4.8 percent in November, the Economy Ministry in Berlin said today. That’s the biggest drop since January 2009. Economists forecast a decline of 1.8 percent, according to the median of 25 estimates in a Bloomberg News survey.

The U.S. economy added 200,000 jobs last month, Labor Department figures showed in Washington. The median projection in a Bloomberg News survey called for a December gain of 155,000. The unemployment rate unexpectedly fell to 8.5 percent, the lowest since February 2009, while hours worked and earnings climbed.

--With assistance from Peter Levring in Copenhagen. Editor: Andrew Rummer

To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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