DAX Edges Lower On Growth Concerns

(RTTNews) - German stocks edged lower on Thursday after several Fed officials said more stimulus from Congress is needed to keep the U.S. economic recovery on track.

The downside remained limited after survey data from ifo Institute showed German business confidence improved further in September.

The business confidence index rose to 93.4 in September from 92.5 in August. However, the reading was slightly below economists' forecast of 93.8.

Firms' assessment of current situation as well as their expectations improved from the previous month.

Earlier today, Switzerland's central bank maintained its expansionary monetary policy stance to cushion the impact of the coronavirus pandemic on economic activity and inflation.

The benchmark DAX dropped 55 points, or 0.45 percent, to 12,585 after closing 0.4 percent higher in the previous session.

Volkswagen Group shares were marginally lower. The automaker announced that its unit Traton SE has entered into a global partnership with TuSimple to develop self-driving trucks.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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