DAX30 Slips Into Red On Weak Data

German stocks fell on Thursday as weak data from China and Japan stoked concerns that a global slowdown is deepening.

Chinese industrial output and retail sales figures for October came in below estimates, while Japan's economy grew at the slowest pace in a year in the third quarter.

Closer home, Germany's economy expanded modestly in the third quarter supported by consumption and, thus avoided entering a widely expected technical recession.

Gross domestic product grew a seasonally and calendar adjusted 0.1 percent from the previous three months, provisional data from the statistical office Destatis showed, defying economists' expectations for a 0.1 percent decline.

The contraction in the second quarter was revised to 0.2 percent from 0.1 percent.

The benchmark DAX was down 0.32 percent at 13,187 after declining 0.4 percent in the previous session.

Daimler shares tumbled 3 percent after the automaker said it would cut jobs and save more than €1 billion (US$1.1 billion) by the end of 2022.

Science and technology company Merck KGaA shed 0.6 percent after it reported muted growth in third-quarter net income.

Wirecard edged up slightly after winning YeePay, Chinese travel payment company, as a new partner for airline bookings globally.

Utility RWE fell over 2 percent despite reporting a rise in nine-month earnings and lifting its 2019 guidance.

Consumer goods maker Henkel AG & Co. KGaA dropped 1.5 percent after its Q3 profit declined 9.4 percent.

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