European Shares Lower, DAX Shows Significant Losses
European stock indexes fell today, as increased expectations of a more rapid increase in interest rates in the United States restrained the appetite for risk around the world. German DAX stock index is trading at 12.366.50, having lost 0.82%. Today, the ECB publishes the minutes of its January meeting on policy issues. Germany issues the final GDP, and the Eurozone publishes the final consumer price index tomorrow.
The US stock indices fell by 0.6% in the previous session after the minutes of the last meeting of the Federal Reserve expressed expectations of faster economic growth due to fiscal stimulus. The US Central Bank confirmed at its recent meetings that this year it will raise interest rates three times. Most members of the Fed were of the opinion that inflation would rise to the goal of the Fed in 2%.
Business confidence in Germany fell more than expected in February, while remaining at a high level, which indicates that Europe's largest economy is set for stable growth in the first quarter of this year. The Ifo Institute reported that the Business Climate index, based on a monthly survey of about 7.000 firms, fell to a 5-month low of 115.4 from 117.6 in January. February data were weaker than analysts' expectations, which forecast a drop to 117.1.