DAX Slips In Cautious Trade; German Inflation Edges Higher
(RTTNews) - German stocks turned in a mixed performance Wednesday morning with investors mostly treading cautiously due to persisting concerns about Middle East tensions and energy disruptions. Bond yields retreated a bit, limiting market's downside.
Investors also awaited the minutes from the Federal Reserve's latest monetary policy meeting for clues about the central bank's future interest rate stance.
The benchmark DAX, which advanced to 26,199.95 earlier in the session, was down 72.19 points or 0.28% at 26,079.50 about a quarter before noon.
Zalando and Scout24 drifted down 1.7% and 1.5%, respectively. Infineon Technologies, Munich RE, Qiagen and Rheinmetall lost 1%-1.1%.
Hannover RE, Commerzbank, Continental, Bayer, Hochtief, SAP, Vonovia and Symrise shed 0.3%-0.9%.
Volkswagen, Daimler Truck Holding, Heidelberg Materials, Fresenius, BASF, Merck, Brenntag and Siemens gained 0.5%-1.1%.
In economic news, final data from Destatis showed Eurozone inflation rose slightly in July, edging up to 2.9% from 2.8% a month earlier. The rate came in line with the estimate published on July 31.
Core inflation that excludes energy, food, alcohol and tobacco, rose to 2.5% from 2.4% in the previous month. The core rate also matched the preliminary estimate.
On a monthly basis, the harmonized index of consumer prices climbed 0.2% in July, as initially estimated.
