Heightened tensions between Ukraine and Russia have dampened investor sentiment across European markets, resulting in a nearly 1% decline in the DAX index. Concerns also persist regarding the composition and policy direction of the new Trump administration, corporate sector health, and the slower-than-anticipated rate cuts by the Federal Reserve.
Earlier data confirmed that annual inflation in the Eurozone reached 2% in October, up from 1.7% in September, aligning with preliminary estimates.
The 40-component DAX index is currently down by 0.95%, trading at 18,987.35 compared to the previous close of 19,170.41. The index has fluctuated between a high of 19,206.54 and a low of 18,939.75 during the trading day.
Out of the 40 components, only 8 stocks are showing gains. Rheinmetall has increased by 2.8%, followed by a 1.7% rise in E.ON. BMW and Symrise have both seen gains exceeding 0.60% today.
Siemens led the decliners with a 3.3% drop. Other notable losses include Infineon Technologies, Siemens Energy, Daimler Truck Holding, Volkswagen, Commerzbank, and BASF, each down by more than 2%. Airbus Group, Daimler, Deutsche Post, and Heidelberg Cement have all shed more than 1.5% in today's trading.
The EUR/USD pair has decreased by 0.35%, currently trading at 1.0562, with a range of 1.0524 to 1.0601. The EUR/GBP pair has marginally declined by 0.02% to 0.8358, while the EUR/JPY pair has dropped by 0.91% to 162.43.
Consistent with the global trend of easing bond yields, German bond yields have decreased by 2.9%. Currently, they are at 2.3030%, down from the previous close of 2.372%. Throughout the day, yields have varied between 2.2675% and 2.3715%.