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German stocks edged lower on Tuesday as the yield on the 30-year Treasury bond climbed and new Covid-19 cases continued to rise around the world, raising concerns over a disconnect between fundamentals and high equity valuations. <\/p>\n
The benchmark DAX dropped 44 points, or 0.3 percent, to 15,324 after declining 0.6 percent on Monday. <\/p>\n
Deutz AG rose over 1 percent. The internal combustion engine manufacturer raised its full-year guidance for 2021 after reporting a 1 percent rise in first-quarter revenue. <\/p>\n
Luxury carmaker BMW gained half a percent. The company reported sales growth in all significant regions of the world, in particular in China, and all brands in the first quarter of 2021.<\/p>\n
K+S Group shares gained nearly 2 percent. The chemical company said it received allowance from the U.S. Justice Department for the sale of the Americas operating unit. <\/p>\n
In economic releases, German producer price inflation accelerated sharply to 3.7 percent in March from 1.9 percent in February, driven by higher energy and intermediate product prices, Destatis reported. <\/p>\n
This was the biggest increase since November 2011 and faster than the expected rate of 3.3 percent.<\/p>\n
Month-on-month, producer prices gained 0.9 percent versus a 0.7 percent rise in the prior month. Economists had expected a 0.6 percent rise. <\/p>\n<\/p>\n<\/div><\/div>\n