29.08.202514:10:31UTC+00DAX Pares Losses

On Friday afternoon, the DAX index in Frankfurt reduced its early declines to hover just below the 24,000 level, as investors assessed European inflation data, which indicated minimal upward pressure on prices. Specifically in Germany, the inflation rate increased to 2.2% in August from July's 2%, exceeding market expectations of 2.1%, yet remaining near the European Central Bank's 2% target. Additional reports revealed a fourth consecutive monthly decrease in German import prices, alongside a downturn in retail sales. In terms of sectors, technology firms, retailers, and automotive stocks faced the most significant challenges. In contrast, defense stocks such as Rheinmetall, Renk, and Hensoldt emerged as top performers, each posting gains exceeding 3%, following Chancellor Friedrich Merz's remarks that cast doubt on potential discussions between Putin and Zelenskyy. Overall, the DAX was on track for a weekly decline of 1.5% and a monthly decrease of 0.3%.