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DAX Slips In Lackluster Trade

2024-12-29iFOREXiFOREX
German stocks slipped into the red on Wednesday after several Federal Reserve officials urged patience on interest-rate cuts.
DAX Slips In Lackluster Trade

(RTTNews) - German stocks slipped into the red on Wednesday after several Federal Reserve officials urged patience on interest-rate cuts.

The benchmark DAX was down 40 points, or 0.2 percent, at 18,092 after closing up 0.4 percent the previous day.

The dollar held steady while sterling edged higher after data showed U.K. inflation has hit the 2 percent target for the first time in three years, delivering a fillip to Prime Minister Rishi Sunak ahead of the parliamentary election.

In corporate news, Adidas shares dropped half a percent. The athletic apparel company Adidas has launched an investigation into allegations of compliance violations in China after receiving an anonymous letter earlier this month.

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