German stocks remained relatively stable on Thursday, notwithstanding an unforeseen slump in retail sales in February. According to Destatis data, Germany's retail sales took a hit of 1.9 percent compared to January, defying the anticipated boost of 0.3 percent.
Yearly retail sales experienced a 2.7 percent dip in real terms, outpacing financial analysts' prediction of a mere 0.8 percent fall. Consequently, the noteworthy DAX descended slightly by 3 points to 18,473, after witnessing a half percent climb in the previous session.
Shares of Stratec, a prominent manufacturer of analyzer and automation systems for In-Vitro-Diagnostic, dipped by approximately 1 percent. The company reported a decrease in net profit for the full fiscal year due to a drop in sales and an upsurge in expenses.
Despite securing a hefty 264 MW order from Lithuania, the shares of wind turbine manufacturer Nordex Group fell by 1.4 percent. Kontron, a company known for its Internet of Things technology, saw its shares plummet by 3.5 percent following the announcement of its total annual results for the fiscal year 2023.
