Advertisement
DAX Little Changed As Microsoft Gives Downbeat Outlook
(RTTNews) - German stocks were little changed on Wednesday as concerns that a recession might be coming offset investors optimism that the U.S. Federal Reserve will slow its pace of rate increases.
Microsoft Corp reported a sharp decline in the second quarter profit and warned of a slowdown in corporate sales, denting sentiment.
The benchmark DAX was little changed with a positive bias at 15,102 ahead of German business sentiment data due later in the day.
Banks led losses, with Commerzbank down 1.5 percent and Deutsche Bank losing 2.3 percent. Jungheinrich AG, a manufacturer of advanced materials handling equipment, rallied 2.3 percent after announcing that it has signed a deal to buy Indiana-based Storage Solutions group for approximately $375 million.
U.S. Dollar Falls Amid Growing U.S. Debt Concerns
U.S. Dollar Falls Against Majors
European Shares Gain As Investors Cheer Strong Economic Data
Asian Shares Mixed In Cautious Trade
UK Retail Sales Growth Tops Expectations On Warm Weather
European Shares Seen Flat To Higher At Open
European Economic News Preview: UK Retail Sales Data Due
