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DAX Edges Lower As Investors Await ECB Meeting

(RTTNews) - German stocks edged lower on Thursday as investors awaited the outcome of a European Central Bank meeting later today where policymakers are expected to increase the size of the 750 billion-euro ($840 billion) Pandemic Emergency Purchase Program to support Europe's weakest economies.

The benchmark DAX dropped 62 points, or half a percent, to 12,425 after rallying 3.9 percent in the previous session.

Automakers were moving lower after the German government coalition decided to reboot Europe's largest economy with a 130 billion euros stimulus package, which contains incentives for cheap electric cars and for hybrid vehicles.

BMW fell over 1 percent, Daimler lost 3.8 percent and Volkswagen shed 0.7 percent.

Banks were trading mixed, with Commerzbank down 1.5 percent while Deutsche Bank rose 0.3 percent.
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