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DAX Slides As Italy's Draghi Resigns
(RTTNews) - German stocks fell on Thursday after Italian Prime Minister Mario Draghi offered his resignation to the president, in a move that will raise the prospect of snap elections as soon as early October.
Meanwhile, Russia resumed natural gas supplies to Germany, helping to ease worries about fallout on the economy.
The euro wilted as investors braced for the interest-rate decision from the European Central bank. A 25-bps hike is already priced in by markets.
The benchmark DAX slipped 110 points, or 0.8 percent, to 13,172 after declining 0.2 percent the previous day.
SAP tumbled 3.6 percent after the business software company lowered its 2022 profit outlook.
Sartorius soared 7.5 percent. The pharmaceutical and laboratory equipment supplier confirmed its 2022 outlook after reporting encouraging first-half results.
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