European Stocks at 2-Year Lows With DAX 1.63% Down
European stock indices fell to their lowest levels in almost two years on Tuesday, as concerns about the Italian budget and the ongoing Brexit negotiations have suppressed market sentiment. Also, a new batch of third-quarter earnings failed to offset growing concerns on the markets. The German DAX stock index fell by 1.63% to trade at 11.336 level.
Today’s data from Germany showed, that producer price inflation (PPI) increased more than expected in September. The German producer price index rose by 3.2% in September compared with the corresponding month of the previous year. In August, the annual growth rate was 3.1%. Economists had forecast a less significant growth rate by 2.9%. On a monthly basis, the overall producer price index rose by 0.5% in September, after rising 0.3% in August.