DAX Pares Early Gains, Down Marginally

(RTTNews) - German stocks pared early gains and are down in negative territory a little past noon on Friday with investors looking to take some profits after previous session's sharp upmove.

With the Federal Reserve and the Bank of England having announced their interest decisions that were in line with expectations, and the Bank of Japan too holding rates today as expected, investors are now looking for fresh directional clues.

The benchmark DAX was down 45.14 points or 0.19% at 23,625.82 a little while ago. The index, which advanced to 23,789.88 early on in the session, dropped to a low of 23,603.96 subsequently.

Zalando is down by about 2.7%. Infineon Technologies is down 1.7% and Deutsche Boerse is declining by 1.6%. Symrise, Beiersdorf, Qiagen, Porsche, Vonovia, Adidas, Siemens Healthineers and Brenntag are down 0.5 to 1%.

Auto supplier Stabilus is down nearly 5% after cutting its net profit outlook below market estimates.

Commerzbank is gaining more than 1%. Fresenius Medical Care, Volkswagen, Fresenius, E.ON, Porsche Automobil Holding, Daimler Truck Holding and Continental are up with modest gains.

Data from Destatis showed producer prices in Germany fell by 2.2% yoy in August, following a 1.5% decline in June. This marked the sixth consecutive month of annual producer price declines and the sharpest since May 2024.

On monthly basis, the producer price index fell the sharpest in four months in August, dropping by 0.5%, after a 0.1% decline in July.