DAX Slides As Banks Drag
(RTTNews) - German stocks fell notably on Wednesday after the country's financial regulator warned that the sector is facing an uncertain future amid the energy dispute with Russia.
Investors ignored data showing that Germany's consumer price inflation moderated in June from a record high in May, as initially estimated.
Consumer price inflation eased to 7.6 percent in June from 7.9 percent in May, Destatis said. That was in line with flash data published on June 29.
Similarly, the EU measure of inflation slowed to 8.2 percent from 8.7 percent in May. The German DAX dropped 120 points, or 0.9 percent, to 12,786 after rising 0.6 percent in the previous session.
Lenders Commerzbank and Deutsche Bank both fell over 1 percent.
Gerresheimer AG, a maker of medical packaging products, jumped 3.7 percent after confirming its FY22 view.
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