DAX Edges Lower On Weak Data

(RTTNews) - German stocks inched lower on Thursday after data showed the country's industrial output unexpectedly fell in October in a further sign of deteriorating environment in the key manufacturing base of Europe's largest economy.

The euro struggled for direction while bond yields rose ahead of the euro zone final third-quarter GDP due later in the day.

The benchmark DAX was down 36 points, or 0.2 percent, at 16,620 after hitting a fresh record high on Wednesday amid expectations that global interest rates have peaked.

As inflation concerns ease, investors are pinning hopes that the Federal Reserve will cut interest rates as early as the first quarter next year.

Traders are also betting that the European Central Bank will lead the way among big central banks in cutting interest rates next year.