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DAX Moves Lower Ahead Of ECB Meeting

(RTTNews) - German stocks retreated on Thursday as global growth worries resurfaced and investors waited to see whether the European Central Bank would extend its liquidity operations to the region's banks.

The benchmark DAX was down 63 points or 0.54 percent at 11,524 in opening deals after declining 0.3 percent in the previous session.

Automakers BMW, Daimler and Volkswagen fell 1-2 percent as investors awaited more clarity on U.S.-China trade talks.

Banks Commerzbank and Deutsche Bank also moved lower in anticipation of the ECB loan scheme.

Dialog Semiconductor lost 2.7 percent after it agreed to acquire Silicon Motion Technology Corp.'s Mobile Communications product line, branded as FCI, for $45 million.

Deutsche Post dropped 1 percent as its fourth-quarter consolidated net profit after non-controlling interests decreased by 2.9 percent from last year.

Merck KGaA fell over 1 percent after reporting a fall in adjusted fourth quarter core earnings.

Fashion house Hugo Boss tumbled 2 percent despite the company forecasting sales and profit growth in 2019.

Media holding company Axel Springer slumped nearly 7 percent after the company forecast 2019 revenue growth in the low- to mid-single digit percentage range.
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