DAX Slips After Positive Start
(RTTNews) - After opening on a positive note amid continued optimism about an interest rate cut by the Federal Reserve, the German market pared its gains and slipped into negative territory on Wednesday, with the mood turning cautious as investors await the crucial U.S. inflation data due later in the week, and the European Central Bank's monetary policy announcement on Thursday.
The benchmark DAX, which advanced to 23,686.91 earlier in the session, was down 19.61 points or 0.08% at 23,713.59 a little while ago.
SAP is up 2.1%. Rheinmetall and Siemens Energy are gaining 1.5% and 1.4%, respectively, and Sartorius is up nearly 1%.
BASF, Infineon Technologies, Deutsche Bank and Fresenius are up with modest gains.
Daimler Truck Holding is down more than 2%. Bayer, Porsche, Commerzbank, Volkswagen, Deutsche Telekom and Siemens are down 1 to 1.6%.
Qiagen is down nearly 1% and Merck is lower by about 0.9%. Muench Rueck, Deutsche Post, Vonovia, Porsche Automobil Holding and BMW are also down in negative territory.
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