German DAX Falls as Eurozone Inflation Unexpectedly Rises
Economy / Finance

German DAX Falls as Eurozone Inflation Unexpectedly Rises

Gains were observed in Beiersdorf, Henkel and Qiagen, while FMC, Vonovia and Siemens Energy lagged behind

Investor reaction to newly released Eurozone inflation data contributed to market movements August inflation rose unexpectedly to 21 percent, though remaining within reach of the European Central Bank’s (ECB) two percent target, suggesting limited immediate impact on forthcoming interest rate decisions

The Euro exhibited weakness against the US dollar, trading at 11634 US dollars per Euro, equating to 08595 Euros per US dollar

Meanwhile, crude oil prices increased notably; Brent crude reached 6951 US dollars per barrel around midday German time, a 20 percent rise from the previous day’s closing price