The performance of German stocks remained subdued as investors waited for the Federal Reserve's decision on interest rates, which is expected later today.
Furthermore, data from Destatis revealed that Germany's producer prices continue on a declining trend for the eighth consecutive month in February, exceeding expectations in its pace. This continued slowdown registered an annual decrease of 4.1% following a 4.4% decline in January. On a monthly basis, producer prices dropped 0.4% in February, which is significantly more than the predicted 0.1% fall.
The DAX, Germany's benchmark stock index, fell by 26 points, or 0.1%, to 17,962 despite a 0.3% rise in the previous trading session.
Shares in Deutsche Wohnen, the real estate offshoot of Vonovia Group, plunged 1.5%. The decline in the property firm's 2023 group funds from operations and a notable increase in after-tax losses underlines the challenges currently encompassing the sector.
On the other hand, there was a notable upturn for Indus Holding as its shares climbed 0.6%. The industrial and infrastructure holding company bounced back in fiscal 2023 with earnings after taxes reported as €56.1 million, overturning the previous year's loss of €41.4 million.
