DAX Edges Lower Ahead Of Powell Speech
(RTTNews) - German stocks edged lower on Thursday as investors awaited Fed Chair Jerome Powell's Jackson Hole speech for hints of the bank's strategy on inflation and monetary policy. Analysts expect that Powell will outline dovish measures including a move toward average inflation targeting in which inflation above the central bank's usual 2 percent target would be tolerated and even desired.
Rising U.S.-China tensions over the South China Sea also remained on investors' radar.
The benchmark DAX slid 35 points, or 0.3 percent, to 13,155 after climbing 1 percent the previous day.
Banks led losses, with Commerzbank declining 1.6 percent and Deutsche Bank falling 0.7 percent.
Online takeaway food group Delivery Hero fell over 1 percent after it announced the acquisition of online grocery service InstaShop.
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