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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. <\/p>\n
The Fed is widely expected to cut interest rates by 25 basis points. Investors are also digesting Eurozone inflation data.<\/p>\n
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.<\/p>\n
SAP is gaining about 2.7% after Jefferies maintained ‘buy’ rating for the stock.<\/p>\n
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%.<\/p>\n
German wind turbine maker Nordex rallied 2.7 percent after receiving its first order from Ecuador.<\/p>\n
Symrise, Volkswagen, Mercedes-Benz, Commerzbank, Siemens Healthineers, Zalando, Siemens, BASF and Deutsche Bank are down 0.6 to 1.2%.<\/p>\n
Final data from Eurostat showed Eurozone consumer prices rose slightly less than initially estimated in August, final data published by Eurostat showed on Wednesday.<\/p>\n
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.<\/p>\n
Excluding prices of energy, food, alcohol and tobacco, core inflation remained unchanged at 2.3%. The rate also matched the preliminary estimate.<\/p>\n
The harmonized index of consumer prices posted a monthly growth of 0.1%, which was revised down from 0.2% estimated previously.<\/p>\n
Further, data showed that inflation in the EU27 also held steady at 2.4% in August. <\/p>\n<\/p>\n<\/div>\n