German stocks were subdued on Monday as upbeat U.S. employment figures released last week prompted investors to scale back their expectations for an early interest rate cut by the Federal Reserve.
German bond yields rebounded as investors looked ahead to Tuesday’s U.S. November CPI inflation print and a slew of several central bank decisions later in the week, including the FOMC decision on Wednesday,
Both the Bank of England (BOE) and European Central Bank (ECB) will decide on rates on Thursday.
The benchmark DAX was down 11 points at 16,748 after surging 0.8 percent on Friday.
MorphoSys AG jumped nearly 10 percent after announcing positive results from a Phase III myelofibrosis trial.
Renewable energy producer Encavis plunged 5.3 percent after a downgrade of the stock’s rating by Morgan Stanley to “underweight”.
Market Analysis
DAX Edges Lower Ahead Of Eventful Week
2023-12-11 08:53:39
