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DAX Slips In Cautious Trade As Yields Jump
(RTTNews) - German stocks were subdued on Wednesday as yields edged up on concerns about instability in the U.K. bond market.
As recession risks mount, investors also looked ahead to the release of U.S. inflation data and the FOMC meeting minutes this week for direction.
The benchmark DAX slipped 0.2 percent to 12,200 after declining 0.4 percent in the previous session.
Tech stocks traded higher, with Infineon rising 1.3 percent after reports that chipmaker Intel is planning to cut thousands of jobs amid a slowdown in the personal computer market.
Drugs-packaging maker Gerresheimer fell about 1 percent despite reporting double digit growth in earnings and revenue for the third quarter.
Klöckner, which is engaged in the production and distribution of steel and metal products, slumped 11.3 percent after reporting lower than expected operating income in the third quarter of 2022.
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