German stocks traded lower on Wednesday due to uncertainty over the rate outlook and amid caution ahead of Nvidia’s earnings release.
The benchmark DAX was down 57 points, or 0.3 percent, at 18,670 after closing 0.2 percent lower on Tuesday.
Evotec shares advanced 1.5 percent after the biotech firm posted mixed Q1 results.
Automakers BMW, Mercedes Benz and Volkswagen dropped 1-2 percent despite new car sales in the EU rebounding sharply in April.
New car registrations rose 13.7 percent year-over-year to 913,995 units in April, reversing a 5.2 percent fall in March, thanks to strong demand among four major markets, especially Spain and Germany, monthly data from the European Automobile Manufacturers’ Association revealed.
This growth can be partly explained by the fact that there were two extra sales days compared to the same month last year, when Easter holidays fell in April, the ACEA said.
DAX Dips Ahead Of Nvidia’s Earnings
2024-05-22 08:46:03
