DAX Finishes Lower
Frankfurt's DAX 40 finished about 1% down at 24,981 on Thursday, its lowest since July 23, pressured by rising oil prices and elevated bond yields. Middle East risks remained high, with diplomatic efforts to resolve the Middle East conflict apparently stalled. At the same time, accelerating inflation in major European economies added pressure on the ECB to keep rates higher for longer. Almost all sectors recorded declines, led by pharma & healthcare, banks, autos. The tech sector also lost momentum. Bayer (-5.5%) was the biggest laggard among stocks, followed by Volkswagen (-3.4%), Merck (-2.6%), Deutsche Bank (-2.6%), Deutsche Bank (-2.6%) and Fresenius SE & CO (-2.3%).
Frankfurt's DAX 40 finished about 1% down at 24,981 on Thursday, its lowest since July 23, pressured by rising oil prices and elevated bond yields. Middle East risks remained high, with diplomatic efforts to resolve the Middle East conflict apparently stalled. At the same time, accelerating inflation in major European economies added pressure on the ECB to keep rates higher for longer. Almost all sectors recorded declines, led by pharma & healthcare, banks, autos.
The tech sector also lost momentum. 3%).