DAX Slips In Cautious Trade Ahead Of US Election Results
(RTTNews) - German stocks were subdued on Wednesday as investors awaited the results of Tuesday's midterm elections in the United States.
According to early results, a predicted Republican "red wave" appeared to have become a ripple as Democrats clung on in key races in the midterm elections.
A split government is viewed as a more favorable outcome for financial markets. The benchmark DAX was down 53 points, or 0.4 percent, at 13,635 after rallying 1.2 percent the previous day.
Deutz AG, an internal combustion engine manufacturer, jumped more than 2 percent after posting improved earnings in the third quarter.
Chemicals distributor Brenntag rose 0.6 percent after its Q3 profit beat forecasts. Evotec plunged nearly 7 percent after the drug discovery development company kept its outlook for FY22 unchanged.
Utility E.ON fell 1.7 percent after high energy costs dented its earnings in the January-September period.
Lender Commerzbank fell about 1 percent after reporting a 52 percent fall in its third-quarter net profit.
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