German stocks were little changed with a positive bias on Wednesday as investors waited to see whether the U.S. Federal Reserve will push back market expectations that an interest rate increase could come as soon as the end of next year.
FOMC economic projections along with Fed Chair Jerome Powell’s press conference will be closely watched.
The benchmark DAX was up 10 points at 14,567 after climbing 0.7 percent on Tuesday.
TAG Immobilien shares fell half a percent. The company reported that its net profit for fiscal year 2020 declined to 402.6 million euros from 456.4 million euros in the previous year.
Carmaker BMW surged 4 percent after it forecast significant year-on-year increase in group profit in 2021.
Daimler was marginally higher and Volkswagen added 2.5 percent even as new data showed Europe’s new car registrations logged another double-digit decline in February.
New car registrations declined 19.3 percent year-on-year in February, but slower than the 24 percent decrease seen in January, the European Automobile Manufacturers’ Association said.
DAX Holds Steady As Investors Await Fed Meeting Outcome
2021-03-17 09:03:56
