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DAX Subdued In Lackluster Trade

(RTTNews) - German stocks were drifting lower on Thursday, with bank mergers, Brexit developments, and ongoing U.S.-China talks in focus.

Investors also digested data showing that German factory orders plunged by 4.2 percent month-on-month in February, marking their sharpest fall since January 2017.

The benchmark DAX was down 18 points or 0.15 percent at 11,937 in opening deals after climbing 1.7 percent in the previous session.

Commerzbank shares jumped 3.3 percent. Italian lender UniCredit SpA is preparing a rival multibillion-euro bid to take control of the German lender as plans to merge the German lender with Deutsche Bank face several major hurdles, the Financial Times reported, citing several people familiar with the matter.

Steel maker Thyssenkrupp lost 3.6 percent on reports that workers at the company are demanding substantial guarantees for jobs and plants even if a planned joint venture with India's Tata Steel falls apart.
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