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German stocks retreated on Friday amid lingering concerns about slowing growth and rising inflation. <\/p>\n
German retail sales rebounded in August but at a slower-than-expected pace, data published by Destatis showed earlier in the day. <\/p>\n
Retail sales grew 1.1 percent month-on-month in August, reversing a 4.5 percent fall in July. Economists had forecast a monthly growth of 1.5 percent.<\/p>\n
On a yearly basis, retail sales growth held steady at 0.4 percent in August. This was much slower than the expected growth of 1.9 percent.<\/p>\n
Germany’s September final manufacturing PMI came in at 58.4 almost in-line with preliminary reading of 58.5.<\/p>\n
The benchmark DAX fell 133 points, or 0.9 percent, to 15,127 after declining 0.7 percent in the previous session. <\/p>\n
Daimler was little changed in volatile trade as shareholders vote on spinning off the sprawling truck division from the Mercedes-Benz luxury-car operations.<\/p>\n
Leoni AG advanced 1.8 percent. The company said it will reach a binding agreement to sell the Business Group Leoni Industrial Solutions to BizLink Holding Inc.<\/p>\n
Beiersdorf rose 0.6 percent. Coppertone, owned by the German consumer major, is recalling certain aerosol sunscreen spray products citing the presence of Benzene, a human carcinogen, the U.S. Food and Drug Administration said. <\/p>\n<\/p>\n<\/div>\n