FRANKFURT (dpa-AFX) – The German stock market initially largely defended its gains from the previous day on Thursday morning. The Dax stagnated at 19,255.21 points in the first exchanges. The MDax of medium-sized companies fell 0.01 percent to 26,935.96 points. The euro zone’s flagship index, the EuroStoxx 50, was also initially unchanged.
After the Dax was boosted on Wednesday by the firmness of the American stock markets, the American consumer prices announced at 2:30 p.m. could be the next driver of prices. According to Commerzbank, the market consensus for headline inflation is 2.3% year-on-year, which is slightly lower than the 2.5% recorded in August. Commerzbank experts forecast core inflation of 3.2%, unchanged from the August level.
The level of inflation will once again be important to the potential interest rate cuts by the US Federal Reserve (Fed). According to Commerzbank, the minutes of the previous day’s meeting showed that the latest decision gave rise to a “lively debate on the extent of the rate cut.” Ultimately, a “considerable majority” emerged in favor of the 0.5 percentage point reduction./edh/zb
