DAX Slips Amid Earnings Deluge
(RTTNews) - German stocks traded lower on Wednesday as investors reacted to a slew of earnings updates and looked ahead to Fed Chair Jerome Powell's speech for direction.
Meanwhile, Germany's consumer price inflation slowed sharply in October to hit the lowest in more than two years, final data from Destatis showed.
The consumer price index rose 3.8 percent year-on-year, following a 4.5 percent increase in the previous month. This was the lowest rate since August 2021 and matched the flash estimate published on October 30.
The benchmark DAX was down 32 points, or 0.2 percent, at 15,121 after closing 0.1 percent higher on Tuesday.
Continental AG rallied 2.2 percent after reporting higher earnings and slightly raising its outlook for the tires business.
DHL Group jumped 2.3 percent despite the logistics company posting a 32 percent drop in its third-quarter operating profit.
Bayer was little changed after it slipped to a loss in Q3.
Adidas dropped half a percent after reporting a decline in Q3 revenue.
Commerzbank jumped nearly 6 percent after Q3 net profit more than tripled.
Swiss Market Ends Marginally Up
European Stocks Close Weak
Canadian Stocks Turning In Mixed Performance; TSX Down Marginally
U.S. Pending Home Sales Fall More Than Expected In July
Eurozone Economic Confidence Weakens In August
Walgreen Co. Now Operating As Private Standalone Company Under Sycamore Partners
U.S. Economy Surges More Than Previously Estimated In Q2
