DAX Dips In Cautious Trade Ahead Of US Inflation Data
(RTTNews) - German stocks edged lower on Thursday, as investors awaited a closely watched reading on U.S. inflation to see whether the Federal Reserve has been successful in taming surging inflation.
The benchmark DAX dipped 33 points, or 0.2 percent, to 13,633 after closing 0.2 percent lower in the previous session.
Continental AG shares rallied 2.4 percent. The automotive supplier and tire manufacturer maintained its fiscal 2022 forecast after reporting a loss in its third quarter.
Housing group LEG Immobilien plunged 7 percent after lowering its profit forecast for this year.
Knorr Bremse surged 7.4 percent after the braking systems maker reported third quarter earnings that topped forecasts.
Allianz added 1.6 percent. The insurer resolved on a share buyback program after quarterly profit beat expectations.
Deutsche Telekom fell over 2 percent despite the telecommunications firm raising its full-year guidance for the third time this year.
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