DAX Struggles For Direction Ahead Of FOMC Meeting Next Week

(RTTNews) - German stocks struggled for direction on Friday after February producer price inflation data from the U.S. flagged concerns of sticky inflation.

As hopes for an early Fed rate cut fade, investors awaited additional cues from a Federal Reserve policy meeting next week.

The benchmark DAX was marginally higher at 17,942 in lackluster trade after declining 0.1 percent in the previous session.

Vonovia SE shares slumped nearly 6 percent after the real estate service firm reported its biggest loss ever for 2023.

Likewise, property company Deutsche Wohnen dropped 1 percent after publishing preliminary results for FY23.

Steel major Salzgitter AG was marginally higher despite posting a plunge in net profit for the full year, mainly due weak economic conditions and lower steel prices.

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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