(RTTNews) – German stocks replaced little in a mediocre industry Friday after U.S. President Donald Trump signed executive orders banning transactions with Chinese TikTok owners WeChat.
Banks Commerzbank and Deutsche Bank, such as car manufacturers BMW, Daimler and Volkswagen, fell more than 1%.
Deutsche Telekom rose 2.8% after TMobile US Inc. announced that it had added more monthly phone subscribers than expected in the current quarter. Deutsche Telekom owns 43% of TMobile.
At the same time, import expansion increased to 7% from 3.6% in May. This is slower than economists’ forecasts of a 10.9% increase.
The industry’s surplus rose to 14.5 billion stately euros, up from 7.5 billion a month ago. The expected point 10.1 billion euros.
German commercial production grew at a faster rate in June, the report revealed. Industrial production grew by 8.9% on a year in June, faster than the 7.4% seen in May. Economists had forecast a monthly expansion of 8.1%.