DAX Slips On Growth Worries
(RTTNews) - German stocks opened lower on Thursday amid concerns that higher interest rates may weigh on global growth.
The dollar was a tad lower but remained elevated after Federal Reserve Chair Jerome Powell reiterated his warning to lawmakers that the central bank may raise interest rates higher than previously anticipated.
The benchmark DAX was down 23 points, or 0.2 percent, at 15,608 after gaining half a percent in the previous session.
Real estate firm LEG Immobilien plunged over 8 percent after suspending dividend for 2022.
Hugo Boss tumbled 3.6 percent. After reporting record sales in the 12 months to 31 December 2022, the fashion house said it expects sales to rise "in the teens" percentage range in 2023.
Dragerwerk rose about 1 percent after turning to profit in the fourth quarter.
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