DAX Slips As Inflation Rises
(RTTNews) - German stocks fell on Tuesday after data showed German consumer price inflation accelerated somewhat amid a rebound in energy costs, as initially estimated in December.
The consumer price index registered an annual increase of 3.7 percent in December, following a 3.2 percent rise in November, Destatis said. That was in line with the flash data published on January 4.
Inflation, based on the harmonized index of consumer prices, also accelerated to 3.8 percent in December from 2.3 percent a month ago, in line with the flash data.
The benchmark DAX was down 102 points, or 0.6 percent, at 16,520 after losing half a percent in the previous session.
Luxury fashion brand HUGO BOSS plunged 10 percent after Q4 EBIT missed estimates.
Wind turbine maker Nordex edged down slightly despite reporting a significant growth in order intake in the fourth quarter and fiscal 2023.
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