DAX Slips In Cautious Trade
(RTTNews) - German stocks edged lower on Wednesday as investors booked some profits after strong gains in the previous session.
Germany's consumer price inflation eased to the lowest level in just over one-and-a-half years in September, as initially estimated, the latest data from Destatis showed earlier today.
The consumer price index rose 4.5 percent year-on-year in September, slower than the 6.1 percent rise in August. That was in line with the flash data published on September 28.
Further, this was the lowest rate since February 2022, when inflation stood at 4.3 percent.
On a monthly basis, the CPI was up 0.3 percent, the same rate as seen in August, confirming the flash report.
The harmonized index of consumer prices advanced 4.3 percent annually in September, which was much slower than the prior month's 6.4 percent gain.
The benchmark DAX was down 0.1 percent after surging around 2 percent in the previous session on dovish Fed comments and China stimulus hopes.
In corporate news, kidney dialysis provider Fresenius Medical Care plunged 19 percent after Danish drug maker Novo Nordisk said its weight-loss drug showed success in a trial for kidney failure in diabetes patients.
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