DAX Slips Into Red Ahead Of Eurozone Inflation Data

(RTTNews) - German stocks fell on Friday while the dollar climbed after comments from three top Federal Reserve officials suggested that U.S. interest rates are likely to stay higher for longer.

Mixed activity data from China also weighed on markets. China's industrial growth accelerated in April, while growth in April retail sales and fixed asset investment during the January-April period softened unexpectedly, official data revealed.

The benchmark DAX was down 97 points, or 0.5 percent, at 18,641 after losing 0.7 percent in the previous session.

Eurostat is slated to issue euro area final inflation data for April later in the day. The flash estimate showed that inflation held steady at 2.4 percent in April and core inflation slowed to 2.7 percent from 2.9 percent in March.

Earlier today, ECB Vice-President Luis de Guindos said that inflation in the Eurozone will move near its target of 2 percent in 2025.