German stocks edged lower on Wednesday, though the downside remained capped after U.S. President Joe Biden said it was “unlikely” that the blast in Poland may have been caused by a missile fired from Russian territory.
The benchmark DAX slipped 36 points, or 0.3 percent, to 14,342 after gaining half a percent in the previous session.
Siemens Energy jumped 4.7 percent. The company swung to a profit in the fourth quarter of its fiscal year and said it expects net loss to reduce in fiscal 2023.
Mercedes Benz Group tumbled 4 percent after slashing prices on two electric car models in China.
Rival BMW lost 2.6 percent and Volkswagen gave up 2.4 percent.
Market Analysis
DAX Slips As Automakers Drag On China Demand Concerns
2022-11-16 08:55:34
