DAX Slides Ahead Of Inflation Data
(RTTNews) - German stocks tumbled on Thursday as the boost from the Bank of England's intervention in bond markets faded and a fourth leak on the Nord Stream pipelines has been reported off southern Sweden, raising fresh concerns about the security of Europe's energy supplies.
Amid increased concerns of aggressive monetary policy tightening, investors awaited German inflation data later in the day for clues on the ECB rate outlook.
The benchmark DAX fell 104 points, or 1.3 percent, to 12,029 after rising 0.4 percent in the previous session.
Automotive part supplier HELLA lost 2.5 percent after it posted a decline in earnings before interest and taxes for the first quarter, on higher costs especially for materials, energy and logistics, and high capital expenditures.
Rational AG soared nearly 13 percent after raising its sales revenue and profit forecast for 2022.
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