DAX Little Changed As Investors Await GDP Data

German stocks were subdued on Monday as investors awaited 2023 GDP data later in the day for directional cues.

The eurozone’s largest economy is expected to have contracted last year.

The benchmark DAX was down 15 points at 16,689 after rallying 1 percent on Friday.

The euro rose against the dollar as investors assess the prospects for rate cuts from the U.S. Federal Reserve and the European Central Bank.

In corporate news, Commerzbank rallied 1.6 percent as talks of a merger with Deutsche Bank resurfaced. Shares of the latter were down 0.6 percent.

Kontron rose over 2 percent. The IoT technology company said that it sees its net profit grow over 87 million euros in 2024.

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