Dax gives in: Inflation data weighs on European stock markets

Dusseldorf. The Dax was down 0.8 percent on Thursday afternoon, just above the 25,000 point mark, at 25,006 points. On Wednesday, the leading German index closed 0.8 percent lower at 25,199 points.

The surprisingly strong rise in German consumer prices caused prices to fall on the stock exchanges in Europe. In September, goods and services cost 3.3 percent more than a year ago, according to an initial estimate published on Wednesday.

On Wall Street, the most important indices closed mixed. In Japan, the Nikkei index temporarily rose by three percent on Thursday thanks to a rally in chip stocks. Robust business figures from chip manufacturer Micron are fueling optimism about AI-related investments.

The French government presented its draft budget for 2027 on Thursday. She wants to use tough austerity measures to reduce the high budget deficit and regain the confidence of the financial markets. The budget also includes unpopular measures to calm bond investors' nervousness ahead of next year's presidential election.