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DAX Subdued In Cautious Trade

Mount Equity Group Tokyo Japan > News > Markets > DAX Subdued In Cautious Trade

(RTTNews) – German stocks slipped into the red on Wednesday, as exports numbers disappointed and investors looked to upcoming U.S. inflation data and a European Central Bank (ECB) policy meeting for directional cues.

German exports increased 0.3 percent month-on-month in April, after a 1.3 percent rise in March, official data showed. Economists had forecast a growth of 0.5 percent.

On an annual basis, exports accelerated 47.7 percent, following a 16.3 percent rise in March.

The benchmark DAX was down 13 points at 15, 627 after declining 0.2 percent on Tuesday.

Volkswagen AG shares were little changed. The automaker announced today a contribution of $620 million or about 500 million euros in a financing round of its Swedish battery partner Northvolt AB with a total volume of $2.75 billion.

Airline Lufthansa rallied 2.5 percent after the U.S. Centers for Disease Control and Prevention (CDC) eased travel recommendations for more than 110 countries and territories.