DAX Slips Into Red Ahead Of ECB Rate Decision
(RTTNews) - German stocks inched lower on Thursday as traders absorbed the Fed's hawkish rate pause and looked ahead to the ECB rate decision later in the day.
ECB officials are likely to raise interest rates by 25 basis points from the current level of 3.25 percent.
The benchmark DAX was down 30 points, or 0.2 percent, at 16,280 after gaining about half a percent in the previous session.
Siemens AG rose 0.6 percent. The industrial conglomerate announced plans to invest €2 billion ($2.2 billion) to expand high-tech manufacturing, including a new plant in Singapore and an expansion at its Chinese factory in Chengdu.
Hugo Boss fell over 1 percent. The fashion company said that it aims to touch its previous mid-term sales target of 4 billion euros already this year, two years ahead of plan.
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