DAX Marginally Lower After Inflation Data
2024-12-02
1046
(fxcue news) - German stocks were subdued on Tuesday as Chinese trade figures disappointed and domestic data showed Germany's consumer price inflation rose to a four-month high in November due to less favorable energy base effects.
The consumer price index registered an annual increase of 2.2 percent in November, following a 2.0 percent rise in October, Destatis reported - matching the estimate published on November 28.
Inflation, based on the harmonized index of consumer prices, stood at 2.4 percent, the same as in October and in line with the flash estimate.
The benchmark DAX was marginally lower at 20,328 after falling 0.2 percent on Monday.
Insurer Allianz SE dropped 1.4 percent after announcing financial targets for 2024 to 2027 period.
Delivery Hero SE, a food delivery platform, plummeted 9 percent as it's Middle East subsidiary Talabat started trading in Dubai.
TeamViewer lost nearly 7 percent after the software firm agreed to acquire the London-based IT firm 1E for an enterprise value of $720 million.
Automaker Volkswagen rose about 1 percent after reports that talks with unionists will continue next week.
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