German stocks were little changed on Wednesday after data showed retail sales in the country unexpectedly fell by 1.6 percent in December, supporting expectations of a recession in Q1 and fueling bets on an ECB rate cut in April.
Germany’s import prices were down 8.5 percent year-over-year in December, slightly slower than the 9.0 percent slump seen a month ago while export prices declined 2.4 percent from the previous year after falling 2.2 percent in the prior month, according to separate reports released by Destatis.
The benchmark DAX was up 11 points at 16,983 ahead of the Federal Reserve’s interest-rate decision due later in the day.
In corporate news, software firm Software AG dropped half a percent after reporting a decline in preliminary revenue for the fourth quarter.
Atoss Software jumped 3.3 percent after reporting a rise in FY23 profit and revenue.
DAX Little Changed As Retail Sales Disappoint
2024-01-31 08:49:34
