DAX Drifts Lower In Cautious Trade

(RTTNews) - With stocks edging down after a flat start, the German benchmark DAX is down marginal on Friday morning.

Though Wall Street ended slightly higher overnight, Asian markets closed on a mixed note after a highly sluggish performance today. With the New Year weekend ahead and no big data lined up, except the German consumer price inflation report, the market is unlikely to see any significant upmove or downside today.

The DAX is currently down 24.44 points or 0.19 percent at 12,955.50. The index has gained about 14 percent this year.

Allianz is declining 0.6 percent. Deutsche Post, BASF, Continental AG, Fresenius ST, Meck, Adidas, Bayer, and Lufthansa are down marginally.

Among the stocks edging higher, Deutsche Boerse is up 0.4 percent and Vonovia is adding 0.35 percent. Commerz Bank, SAP, and Thyssenkrupp are up marginally.

Later in the day, Destatis is scheduled to issue Germany's flash consumer prices for December. Economists forecast inflation to ease to 1.5 percent from 1.8 percent in November.