Major European stock indices closed in negative territory on Wednesday, ending a three-day win streak as renewed recession fears dented risk sentiment. Domestically, the Dax fell 1.7% and the regional Stoxx 600 ended 0.7% lower, weighed down mostly by real estate stocks, auto makers, and industrials. On economic data, Germany’s inflation figures came at a lower-than-expected 7.6% in June, slowing from an all-time high of 7.9% in May, contrasting with inflation in Spain, which beat forecasts at 10.2%, a level not seen since 1985. Meanwhile, business and consumer confidence indicators for the Euro Area were mixed, with consumers and retailers becoming more pessimistic while sentiment among service providers and manufacturers unexpectedly improved. On the earnings front, H&M rose 2.2% after posting upbeat Q2 earnings, reflecting a recovery in low-cost clothing consumption as consumers head back to the office and social events.
Historically, the Germany Stock Market Index (DE40) reached an all time high of 16290.19 in November of 2021. Germany Stock Market Index (DE40) - data, forecasts, historical chart - was last updated on June of 2022.
The Germany Stock Market Index (DE40) is expected to trade at 12651.12 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 11347.18 in 12 months time.