DAX Slips On Inflation Concerns
(RTTNews) - German stocks fell on Wednesday and bond yields jumped after data showed the consumer price index in the bellwether state of North Rhine-Westphalia rose by 5.9 % year-on-year in August from 5.8 percent in July.
A measure of German import prices saw the sharpest drop since January 1987 in July, offering some relief.
Meanwhile, the consumer confidence indicator in the Euro Area has been confirmed at -16 in August 2023, down from -15.1 in July.
The benchmark DAX was down 46 points, or 0.3 percent, at 15,884 after climbing 0.9 percent in the previous session.
Media, services and education company Bertelsmann gained 1.3 percent after sounding optimistic about the business performance in 2023.
Delivery Hero shares slumped 6.6 percent after the online food delivery service reported net and operating losses for the first half.
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