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DAX Down Over 1% As Ifo Data Disappoints

German shares fell on Monday as commodity prices retreated and a survey showed German business morale weakened slightly in April.

The Ifo Business Climate indicator stood at 106.6 in April, down from 106.7 in the previous month and missing a consensus forecast of 107.

The benchmark DAX was down 122 points or 1.18 percent at 10,250 in midday trading after losing 0.6 percent on Friday.

Merck KGaA fell over 1 percent after publishing the results of a pivotal Chinese Phase III study for Erbitux.

Plastics and chemicals company Covestro dropped 1.5 percent, reversing early gains after reporting a 22 percent rise in adjusted core earnings for the first quarter.

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Market Analysis

Inflation data from the U.S. garnered maximum attention this week on the economics front, along with the interest rate decision by the European Central Bank. Read our stories to find out how these two key events are set to influence monetary policy in the months ahead. Other main news from the U.S. were the release of the minutes of the latest Fed policy session and the jobless claims data. Elsewhere, the interest rate decision by the Bank of Canada was also in focus.

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