DAX Falls On Inflation Concerns
(RTTNews) - German stocks fell on Tuesday after data showed French and Spanish inflation rose more than expected in February, increasing pressure on the European Central Bank to keep raising rates.
Closer home, Germany's import price inflation eased to a near two-year low in January due to slower growth in energy and intermediate goods prices, data released by Destatis showed.
Import prices grew 6.6 percent from the last year, much weaker than the 12.6 percent increase in December. Moreover, the 6.6 percent was the slowest annual growth since February 2021.
The export price inflation slowed to 7.8 percent in January from 10.6 percent in the previous month.
The benchmark DAX was down 74 points, or half a percent, at 15,307 after rallying 1.1 percent in the previous session.
BayWa AG shares gained 1.2 percent after the operator in the agriculture, building materials and energy sectors reported significantly higher earnings and revenues in its fiscal 2022.
Aixtron AG, a technology firm, jumped 11 percent after posting improved annual earnings, reflecting an increase in revenue, driven by higher order intake.
Pharmaceutical and life sciences major Bayer Group plunged 5 percent after its fourth-quarter net income dropped 47.4 percent to 611 million euros from 1.16 billion euros a year ago.
Nordex Group fell more than 1 percent despite winning a further order from Enefit Green for a wind farm in the Baltic states.
U.S. Dollar Falls Against Most Majors
German Inflation Accelerates To 2.2% In August
Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings
Swiss Market Ends Modestly Lower
European Stocks Close Lower On Geopolitical Tensions
U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
Chicago Business Barometer Slumps Much More Than Expected In August
