DAX Inches Lower In Lackluster Trade; Allianz Shares Up 2%
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German shares fluctuated in a narrow range on Friday amid broad-based losses, even as Allianz rallied following solid 2016 results and more generous dividend.
The benchmark DAX was down 9 points or 0.08 percent at 11,747 in opening deals after losing 0.3 percent in the previous session.
Banks were broadly lower, with Commerzbank and Deutsche Bank falling about 1 percent each.
Automaker BMW slid half a percent, Daimler shed 0.6 percent and Volkswagen fell as much as 2 percent.
Allianz shares climbed 2.5 percent. The insurer announced a share buyback program worth up to 3 billion euros after posting solid fourth-quarter results.
Drugmaker Stada Arzneimittel jumped over 2 percent on saying the open-minded talks with the two potential bidders are continuing.
Copyright RTT News/dpa-AFX