DAX Pares Early Gains, Down Slightly

(RTTNews) - After opening on a firm note and staying quite positive till around mid morning, the German market gave up gains and was down slightly a little past noon on Wednesday, as investors focus on the Federal Reserve's interest rate decision, due later in the day.

The Fed is widely expected to cut interest rates by 25 basis points. Investors are also digesting Eurozone inflation data.

The benchmark DAX, which climbed to 23,476.41 earlier in the session, was down 7.56 points or 0.03% at 23,316.91 a little while ago.

SAP is gaining about 2.7% after Jefferies maintained 'buy' rating for the stock.

Rheinmetall is rising 1.8%. Fresenius Medical Care is up by about 1.5%, while RWE, MTU Aero Engines and Merck are up 1 to 1.2%.

German wind turbine maker Nordex rallied 2.7 percent after receiving its first order from Ecuador.

Symrise, Volkswagen, Mercedes-Benz, Commerzbank, Siemens Healthineers, Zalando, Siemens, BASF and Deutsche Bank are down 0.6 to 1.2%.

Final data from Eurostat showed Eurozone consumer prices rose slightly less than initially estimated in August, final data published by Eurostat showed on Wednesday.

Consumer prices advanced 2% year-on-year, unchanged from the July's rate. However, the figure was revised down from 2.1% estimated on September 2.

Excluding prices of energy, food, alcohol and tobacco, core inflation remained unchanged at 2.3%. The rate also matched the preliminary estimate.

The harmonized index of consumer prices posted a monthly growth of 0.1%, which was revised down from 0.2% estimated previously.

Further, data showed that inflation in the EU27 also held steady at 2.4% in August.