DAX Holds Steady Ahead Of Fed Decision

RTTNews | 995 days ago
DAX Holds Steady Ahead Of Fed Decision

(RTTNews) - German stocks were steady on Wednesday as investors reacted to mixed manufacturing data from China and awaited the Federal Reserve's interest-rate decision later in the day for direction.

The benchmark DAX was up 0.1 percent at 15,144 after ending marginally higher the previous day.

Hannover Re shares slumped 4.3 percent. In order to take account of the growth in the property and casualty reinsurance portfolio and the increased loss expectation from natural catastrophes, the reinsurer has increased its net major-loss budget for 2023 to 1.725 billion euros.

Software AG plunged 13 percent. The company reported that, on an organic basis, EBIT was 43.1 million euros in the fourth quarter compared to 32.2 million euros, prior year.

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French Manufacturing Sentiment Strengthens Unexpectedly

French Manufacturing Sentiment Strengthens Unexpectedly

French manufacturing confidence strengthened unexpectedly in October to the highest level in more than a year, data from the statistical office INSEE showed on Thursday. The manufacturing confidence index rose to 100.7 in October from 96.7 in September, while the reading was forecast to drop to 96.0. Moreover, the score was the highest since March 2024.
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Bank Of Korea Holds Rate At 2.50%

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The Bank of Korea retained its interest rate on Thursday as inflation remained stable and economic growth continued to improve amid rising concerns over the heated property market. The Monetary Policy Board of the Bank of Korea decided to leave the Base Rate unchanged at 2.50 percent. The central bank had previously lowered the benchmark rate by a quarter-point each in May and February.
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