BERLIN (dpa-AFX) - The German market is trading lower on Wednesday afternoon, amid growth worries, ahead of the release of minutes from the Federal Reserve's June policy meeting later in the day.
On a day of light economic news, latest survey figures from Halifax showed U.K. house prices fell more-than-expected in June, after rising strongly in the previous month.
The house price index dropped 0.6 percent from May, when it climbed 4 percent. Economists had forecast a 0.3 percent fall. The latest decline was the biggest since March, when prices decreased 1.2 percent.
Chinese consumer prices inflation slowed in June from an 4-month high, as food prices increased at a slower rate, a report from the National Bureau of Statistics showed. Nevertheless, the increase was slightly below the consensus estimate.
Consumer prices increased 2.3 percent year-on-year in June following the 2.5 percent increase in May. Economists had expected prices to rise 2.4 percent.
The Euro Stoxx 50 index of eurozone bluechip stocks is gaining 0.18 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.18 percent.
The DAX index is falling by less than tenth of a percent.
Adidas is declining 2.6 percent. The sportswear giant is said to be nearing a kit sponsorship deal with English football club Manchester United, outbidding rival Nike, Inc.
HeidelbergCement is losing 2.4 percent. Goldman Sachs cut the stock to 'Neutral' from 'Buy.'
ThyssenKrupp and Deutsche Boerse are falling 1.8 percent and 1.1 percent, respectively.
Bucking the trend, Commerzbank and Deutsche Bank are in positive territory. JPMorgan raised Deutsche Bank to 'Overweight' from 'Neutral.'
Gerry Weber is gaining close to 5 percent. The clothing & footwear firm was upgraded to 'Buy' from 'Hold' at Berenberg.
Other major markets in the region are also falling.
The Asian stocks fell broadly, with worries over deflationary pressures in China and mounting concerns over a sharp slowdown in Europe weighing on the markets.
In the U.S., futures point to a cautious open on Wall Street. U.S. stocks fell for a second day in a row Tuesday as investors positioned themselves for corporate earnings reports. The Dow and the S&P 500 slid about 0.7 percent each, while the tech-heavy Nasdaq fell 1.4 percent.
Crude for August delivery is losing $0.01 to $103.39 per barrel, while gold is gaining $7.2 to $1323.7 a troy ounce.
Copyright RTT News/dpa-AFX