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DAX Gains Dip As Inflation Fears Mount

RTTNews | hace 1045

DAX Gains Dip As Inflation Fears Mount

(RTTNews) - The German stock market benchmark DAX witnessed muted sentiment amidst renewed concerns over inflation after readings from Euro Area and U.K. reinforced the persistence of high inflation. Inflation in September in the Euro Area was revised to 9.9 percent versus 9.1 percent in August, while inflation in the U.K. was reported at 10.1 percent, versus 9.9 percent in August and expectations of 10 percent.

The forty-scrip DAX index is currently trading at 12,776.40, up 0.08 percent on an overnight basis. The day's trading has been within the range of 12,707.80 and 12,825.81.

Around 24 scrips in the 40-scrip index are trading above the levels on Tuesday. Specialty chemicals businesses Brenntag as well as Covestro and Siemens Energy are the top gainers with uptick of 1.7 percent.

Insurance business Munchener Ruck has gained 1.5 percent in the day's trading.

Medical instruments business Sartorius declined 15 percent after it announced a fiscal 2022 revenue growth guidance that would be in the lower half of the range of around 15 percent to 19 percent.

Diversified utilities business RWE declined 4.6 percent whereas drug manufacturer Merck declined 3.4 percent.

Utility business E.ON which declined 0.5 percent is the most active scrip with a turnover of 1.94 million euros.

The EUR/USD pair is at 0.9797, declining 0.56 percent overnight amidst the US Dollar Index strengthening 0.36 percent to 112.54.

The ten-year bond yield has increased 2.84 percent to 2.34 percent, versus 2.2720 percent on Tuesday.

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U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | hace 2h 5min

Chicago Business Barometer Slumps Much More Than Expected In August

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RTTNews | hace 2h 23min

U.S. Consumer Prices Increase In Line With Estimates In July

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RTTNews | hace 3h 6min

German Unemployment Exceeds 3 Mln

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RTTNews | hace 3h 36min

U.S. PCE Price Index Increased In Line With Estimates In July

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Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday.

RTTNews | hace 3h 49min

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Lower U.S. futures point to a slightly negative start on Wall Street Friday morning.

RTTNews | hace 4h 5min

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Canadian and U.S. futures ahead of Canadian GDP data and U.S. personal consumption expenditure report, point to a weak start on Bay Street Friday morning.

RTTNews | hace 4h 43min

Pound Slides Against Majors

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The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.

RTTNews | hace 4h 50min

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