Dusseldorf The Dax gave back its gains after new data on US inflation. The index is currently down 0.3 percent and is trading at 15,458 points.
With today’s daily high in the form of 15,634 points, the highest level in this still young stock market year was only 25 points away. However, it would have been a surprise if the leading index had passed the 15,658 point mark.
The reason for the slide into the red was the US producer price index, an inflation indicator that shows wholesale prices. It rose 0.7 percent in January, beating the Dow Jones consensus forecast of a 0.4 percent rise.
This is another above expectations inflation report this week. Already last Tuesday, the consumer price index rose by 0.5 percent in the past month. This exceeded the consensus estimate of 0.4 percent.
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