German stocks fell slightly on Thursday after the U.S. Federal Reserve left its benchmark short-term borrowing rate anchored near zero, as widely expected, but projected two rate rises by the end of 2023.
Investors await Eurozone inflation figures for May later in the day for further direction.
The benchmark DAX slipped 19 points, or 0.1 percent, to 15,710 after closing 0.1 percent lower in the previous session.
Biotech CureVac slumped 38 percent after the company said its COVID-19 vaccine was only 47 percent effective in a late-stage trial.
Sugar producer Suedzucker lost nearly 4 percent after reporting lower first-quarter earnings.
Banks Commerzbank and Deutsche Bank both rose over 3 percent on the prospect for higher bond yields and better margins.
Automakers BMW, Daimler and Volkswagen rose between 0.6 percent and 1.4 percent after industry data showed Europe’s passenger car registrations increased sharply in May.
Passenger car sales advanced 53.4 percent year-on-year in May, after expanding 218.6 percent in April due to the low base of comparison, the European Automobile Manufacturers’ Association said.
DAX Edges Lower On Hawkish Fed Comments
2021-06-17 09:12:10
