DAX Dips As Investors Look To Central Bank Meetings

RTTNews | 966 gün önce
DAX Dips As Investors Look To Central Bank Meetings

(RTTNews) - German stocks fell notably on Monday as investors awaited key U.S. consumer inflation data as well as the outcome of the last U.S. Federal Reserve meeting of 2022 this week for additional clues on the pace of rate rises.

The benchmark DAX was down 71 points, or half a percent, at 14,274 after rising 0.7 percent on Friday.

Banks Commerzbank and Deutsche Bank both fell around half a percent.

Automakers were also broadly lower as concerns about a 2023 recession loomed.

MorphoSys AG was moving lower after reporting results from analyses of the ongoing MANIFEST study, a phase 2 clinical trial of pelabresib in patients with myelofibrosis, a type of bone marrow cancer.

The dollar edged higher ahead of a trio of central bank announcements due this week while Treasury yields eased slightly.

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Additional Support Anticipated For Thai Stock Market

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Japanese Market Modestly Higher

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Australian Market Significantly Higher

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China Shares Tipped To Open In The Green On Tuesday

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The China stock market on Monday ended the two-day losing streak in which it had dropped more than 55 points or 1.7 percent. The Shanghai Composite Index now sits just shy of the 3,580-point plateau and it's expected to see additional support on Tuesday.
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