European stocks lost steam during afternoon trading Thursday, with Frankfurt’s DAX closing 0.9% lower at 15,154 as government bonds yield ticked up following strong data out of the US and higher-than-expected inflation rate in Germany. Earlier, stock markets across Europe were trading near record levels boosted by a slew of upbeat earnings reports. Consumer goods giant Unilever reported better-than-expected quarterly sales, telecom network equipment maker Nokia beat Q1 forecasts, and planemaker Airbus reported higher first-quarter core earnings. Among oil majors, Royal Dutch Shell reported stronger-than-expected first quarter profits and Total SE posted first-quarter earnings close to levels from before the coronavirus pandemic. Meanwhile, automakers took a hit after Ford said a global semiconductor shortage may slash second-quarter production by half.
Historically, the Germany DAX 30 Stock Market Index reached an all time high of 15501.84 in April of 2021. Germany DAX 30 Stock Market Index - data, forecasts, historical chart - was last updated on April of 2021.
The Germany DAX 30 Stock Market Index is expected to trade at 14970.19 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 13943.16 in 12 months time.