DAX Drifts Lower Ahead Of ECB Rate Decision
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(RTTNews) - German stocks were moving lower on Wednesday and the euro was down for a third day in a row as investors await Thursday's ECB meeting for directional cues.
Markets currently eye two more rate cuts from the euro area's central bank this year amid a weak growth outlook and lower inflation.
The benchmark DAX slipped 0.2 percent to 19,451 after closing 0.1 percent lower the previous day.
Earnings remained in focus, with sportswear giant Adidas tumbling 3.6 percent despite raising its full-year sales and profit guidance.
Dragerwerk declined 3.1 percent. The breathing equipment maker for industries and hospitals registered a decline in preliminary earnings before interest and taxes for the third quarter, reflecting a drop in sales.
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Sensex, Nifty End Modestly Lower On Weak Global Cues
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Pound Slides As U.K. Inflation Hits Three-year Low
The British pound weakened against other major currencies in the European session on Wednesday, after U.K. inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting.
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European stocks were broadly lower on Wednesday as investors digested a slew of disappointing earnings updates and awaited a European Central Bank policy meeting on Thursday for directional cues.
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U.K. stocks advanced on Wednesday after official data showed U.K. inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting.
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