DAX Marginally Higher In Lackluster Trade
(RTTNews) - German stocks were little changed on Wednesday as new data showed wholesale prices in the country continued to decline in February.
Wholesale prices dropped 3.0 percent on a yearly basis, sharper than the 2.7 percent fall in January. Wholesale prices have been falling since April 2023.
Month-on-month, wholesale prices edged down 0.1 percent, offsetting the 0.1 percent rise in January. Prices were expected to grow 0.2 percent.
The benchmark DAX was marginally higher at 17,979 after rallying 1.2 percent the previous day.
Automaker Volkswagen edged down slightly despite reporting robust financial results in a challenging environment in 2023.
Sportswear giant Adidas fell nearly 3 percent after reporting an annual loss for 2023.
Zalando soared almost 13 percent. After reporting a decline in annual sales, the online fashion retailer said it expects to return to growth in 2024.
E.ON, Europe's biggest operator of energy networks, surged 6.3 percent after 2024 profit guidance beat expectations.
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