German stocks were subdued on Wednesday ahead of the Federal Reserve’s interest rate decision due later in the day.
Meanwhile, Germany’s producer prices declined for the eighth straight month in February, and at a faster-than-expected pace, data published by Destatis showed earlier today.
Producer prices registered an annual decrease of 4.1 percent after declining 4.4 percent in January. Prices have been falling since July 2023.
Month-on-month, producer prices dropped 0.4 percent in February, versus an expected fall of 0.1 percent.
The benchmark DAX was down 26 points, or 0.1 percent, at 17,962 after rising 0.3 percent in the previous session.
Deutsche Wohnen shares fell 1.5 percent. The real estate firm, part of the Vonovia Group, reported a decline in fiscal 2023 group funds from operations and posted sharply wider loss on an after-tax basis in a challenging environment.
Indus Holding rose 0.6 percent. The engineering and infrastructure holding company reported that its fiscal 2023 earnings after taxes was 56.1 million euros, compared to previous year’s loss of 41.4 million euros.
DAX Subdued Ahead Of Fed’s Interest Rate Decision
2024-03-20 08:44:13
