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DAX Slightly Lower After Recent Gains
(RTTNews) - German stocks were a tad lower on Friday after recent string of gains on easing worries about inflation and interest-rate hikes.
Meanwhile, Germany's wholesale prices posted the biggest fall in three years in June, data from Destatis showed earlier today.
Wholesale prices decreased 2.9 percent on a yearly basis in June, bigger than the 2.6 percent fall in May. The rate came in line with expectations. The annual fall was the biggest since June 2020.
Month-on-month, wholesale prices dropped 0.2 percent after easing 1.1 percent in May. Prices were forecast to ease more markedly by 1.2 percent.
The benchmark DAX was down 24 points, or 0.2 percent, at 16,117 after gaining 0.7 percent in the previous session.
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U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.
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Lower U.S. futures point to a slightly negative start on Wall Street Friday morning.
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Lower Canadian and U.S. futures ahead of Canadian GDP data and U.S. personal consumption expenditure report, point to a weak start on Bay Street Friday morning.
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The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
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