DAX Little Changed After Inflation Data
2024-10-07
1091
(fxcue news) - German stocks were little changed on Friday after new data on U.S. consumer price inflation generated mixed reactions from analysts.
Closer home, Germany's consumer price inflation eased further as initially estimated in September to the lowest level in just over three-and-a-half years, Destatis reported earlier today.
The consumer price index registered an annual increase of 1.6 percent in September, slower than the 1.9 percent rise in August. That was in line with the flash data published on September 30.
Further, this was the lowest inflation rate since February 2021, when prices had risen 1.5 percent.
Inflation, based on the harmonized index of consumer prices, also decelerated to 1.8 percent in September from 2.0 percent a month ago.
The benchmark DAX was marginally higher at 19,219 after declining 0.2 percent on Thursday.
In corporate news, online retailer Zalando rose 1.2 percent after raising its financial outlook for 2024.
Auto major Porsche AG gained more than 1 percent despite reporting weak deliveries in the first nine months of fiscal 2024.
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