DAX Ends at Over 1-Week Low
The DAX in Frankfurt closed 0.6% lower at 23,521, marking its lowest point in over a week. Investors are focused on US interest rates and upcoming PCE inflation data. Germany's GfK consumer climate index showed a slight improvement, but remains negative. Healthcare, construction, materials, industrials, and retail sectors underperformed, with Siemens Healthineers dropping 3.5% following a US national security probe into imports of medical equipment.
The DAX in Frankfurt closed about 0.6% weaker at 23,521 on Thursday, its lowest in over a week, halting two straight sessions of mild advances.
Investors closely scrutinized the trajectory of US interest rates in light of fresh economic data, including GDP and jobless claims, while monitoring the potential for new US tariffs.
Attention now shifts to US PCE inflation, due Friday, a key gauge of consumer spending closely watched by the Federal Reserve.
In domestic data, Germany’s GfK consumer climate index improved slightly in October, surprising to the upside, though remaining in negative territory.
Sector-wise, healthcare stocks, construction and materials, industrials and retailers were among the worst performers.
German medical technology company Siemens Healthineers shed about 3.5% after the US administration announced on Wednesday it opened a new national security probe into imports of robotics, medical equipment and industrial machinery.
