German stocks were little changed on Wednesday as U.S.-China tensions over House Speaker Nancy Pelosi’s visit to Taiwan weighed, earnings proved to be a mixed bag and a survey showed Germany’s service sector contracted in July.
S&P Global’s final services PMI fell to a final reading of 49.7 from 52.4 the previous month. That was slightly above a flash estimate of 49.2.
The benchmark DAX was virtually unchanged at 13,456 after closing 0.2 percent lower the previous day.
Luxury carmaker BMW slumped 4.8 percent after it warned of a highly volatile second half.
Semiconductor firm Infineon Technologies rallied 2.5 percent after raising its guidance for the fiscal year.
Lender Commerzbank edged down slightly despite posting better-than-expected profit in the second quarter.
Luxury fashion house Hugo Boss advanced 2.2 percent after raising its FY22 forecast.
DAX Little Changed In Lackluster Trade
2022-08-03 08:57:01
