Bloomberg News

German Stocks Are Little Changed Before U.S. Payrolls Report

June 07, 2013

German stocks were little changed, paring earlier gains, as investors awaited data on U.S. payrolls and German industrial production.

The DAX (DAX) rose less than 0.1 percent to 8,102.88 at 9:46 a.m. in Frankfurt. The gauge has still fallen 3 percent this week. The DAX rallied in all but one of the past 12 months as central banks around the world maintained stimulus efforts. The broader HDAX Index added less than 0.1 percent.

German industrial production stagnated in April after a 1.2 percent rise the previous month, according to economists before the report at 12 p.m. Frankfurt time.

In the U.S., a Labor Department report at 8:30 a.m. in Washington will probably show that companies boosted payrolls by 163,000 workers last month, after hiring by 165,000 in April, according to the median forecast from 90 economists in a Bloomberg News survey. The unemployment rate held at a four-year low of 7.5 percent, according to the survey.

Federal Reserve Chairman Ben S. Bernanke in May suggested the central bank could curtail its bond buying if the job market improves in a “real and sustainable way.”

To contact the reporter on this story: Jonathan Morgan in Frankfurt at jmorgan157@bloomberg.net

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


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