DAX Little Changed As Early Rate-cut Hopes Fade
(RTTNews) - German stocks were little changed on Wednesday as hotter-than-expected U.S. inflation data dented hopes for early rate cuts and geopolitical tensions continued in the Middle East and eastern Europe.
The benchmark DAX was marginally lower at 16,875 after declining 0.9 percent in the previous session.
Industrial services provider Bilfinger jumped 5.6 percent after bagging a large-scale maintenance contract from INEOS for the Forties Pipeline System.
Thyssenkrupp shares plummeted 9 percent after the engineering and steel conglomerate cut its full-year sales and profit targets, citing weakening demand and impairment losses in its fiscal first quarter.
Delivery Hero soared 4.5 percent. The online food company said it expects its organic cash flow generation to be more than sufficient to settle bond and debt maturities.
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