11:48 AM EDT, 09/30/2026 (MT Newswires) -- German equities closed lower on Wednesday, with the blue-chip DAX index ending the session 0.74% in the red, after the release of the latest economic data from the eurozone's largest economy. Preliminary data from the Federal Statistical Office showed that Germany's annual inflation accelerated to 3.3% in September from 2.9% in the prior month, ahead of the market forecast of 3.1%. Core inflation, which excludes food and energy prices, remained unchanged at 2.4%. "Looking ahead, the path of headline inflation remains highly affected by the war in the Middle East and oil prices. In our base case scenario, we are still assuming that the war will continue and relief will only come after the US mid-term elections. Against this backdrop, headline inflation will remain above 3% at least until early 2027," ING Bank said in a quick note. Meanwhile, the ifo Institute reported that "somewhat more" German companies intend to raise prices in September amid rising energy costs. The ifo price expectations index rose to 22.7 points from 21.4 points in August, with persistent price pressures expected across goods and services ahead of anticipated winter energy price increases. On the jobs front, the federal agency Bundesagentur für Arbeit reported that Germany's unemployment rate held steady at 6.4% in September, as expected. The number of unemployed individuals rose by 12,000, compared with the revised 5,000 increase earlier and the expected growth of 1,000. On the corporate side, BofA Global Research maintained Siemens AG's (SIE.F) buy rating and price objective of 330 euros, noting expectations that the German technology group will issue a "strong" fiscal 2027 outlook alongside its 2026 results. "We see a solid end to the year at Siemens with continued strong demand in Data Centers (BofAest SI 4Q orders EUR7.9bn) and continued positive demand trends in automation and software (BofAest 0% organic in 4Q DI orders on very tough comp and 7% organic revenue growth). The focus of the day though will be 2027 guidance, where we see FY27 9% industrial organic sales growth (inc SHL) vs. Cons at 8%," the research firm said in a note. Siemens fell 2.34% at the end of the trading day. BMW (BMW.F) outlined several updates during its two-day capital markets event, including plans to cut the number of its divisions and associated management roles by 20% by mid-2027 and invest 2 billion euros in producing its new BMW 3 Series in Germany. Shares of the carmaker closed 1.80% in the green.

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