The German stock market benchmark DAX remained cautious as market sentiment continues to be driven by the red-hot inflation and the worrying geopolitical backdrop. Finland and Sweden formally applying for NATO membership and inflation in the U.K. recording a 40-year high dampened the recent momentum in the equity markets.
The forty-scrip DAX index is currently trading at 14,200.73, up 0.10 percent on an overnight basis. The day’s trading has been within the range of 14,153.58 and 14,219.41.
Electric utility Business RWE is the top gainer with a 2.9 percent uptick.
Energy business E.ON has also surged more than 2 percent.
Daimler Truck Holding, aerospace and defense business MTU Aero Engines and BMV have all gained more than 1 percent.
Online food delivery service Delivery Hero is on top of the losers’ charts with a more than 4 percent drop.
Meal-kit maker Hello Fresh has also shed more than 3 percent.
Diagnostics and research business Qiagen is down more than 2.5 percent.
Franco-German lab supplies group Sartorius AG is also down close to 2 percent.
Semiconductor business Infineon Technologies is trading more than 1 percent lower.
Energy business E.ON is the most active scrip with a volume of 2.9 million. The stock has surged 2 percent on Tuesday.
The EUR/USD pair is at 1.0527 after falling 0.18 percent overnight amidst the US Dollar Index gaining 0.21 percent to 103.57.
The ten-year bond yield has decreased 0.86 percent to 1.0410 versus 1.0500 percent on Tuesday.
Market Analysis
DAX Hesitant As Inflation, Geopolitics Drive Sentiment
2022-05-18 10:17:35
