DAX Slips Into Red After Tuesday's Rally

RTTNews · 15 Mar 2023 2.7K Views

German stocks opened a tad lower on Wednesday after seeing a relief rally the previous day as concerns over the collapse of SVB and Signature Bank eased.

The benchmark DAX was down 55 points, or 0.4 percent, at 15,177 after climbing 1.8 percent in the previous session.

BMW rose about 1 percent. The automaker said it expects higher margins and deliveries in 2023.

Energy giant E.ON jumped 3.4 percent after reporting a rise in FY22 adjusted profit and sales.

Specialty chemicals group Lanxess slumped 4 percent after its slipped to a fourth-quarter loss of 21 million euros versus a profit of 29 million euros last year.

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