German stocks edged lower in cautious trade on Wednesday as investors kept an eye on bond yields and awaited details of U.S. President Joe Biden’s infrastructure plan, expected to be worth around $2.25tn, according to the Washington Post.
The benchmark DAX slid 0.1 percent to 14,991 after climbing 1.3 percent to a record high in the previous session.
Delivery Hero shares shed around half a percent as Deliveroo shares plunged 30 percent on debut in London.
Daimler edged up slightly. The automaker said it expects unit sales, revenue and EBIT in 2021 to be significantly above prior-year levels.
Stratec SE, a manufacturer of automated analyzer systems, jumped nearly 4 percent after its fourth-quarter earnings per share climbed 76.1 percent.
Knorr-Bremse AG, a manufacturer of braking systems for rail and commercial vehicles, gained half a percent.
The company said that its supervisory board has proposed to the Annual Shareholders’ Meeting in May 2021 that Klaus Mangold be re-elected to the Supervisory Board of the company for a further two-year term.
Market Analysis
DAX Edges Lower In Lackluster Trade
2021-03-31 08:59:45
