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DAX Drifts Lower Ahead Of ECB Meeting

German stocks were modestly lower on Thursday as investors waited to find whether the European Central Bank will make a decision about its stimulus program later in the day.

The benchmark DAX was down 39 points or 0.30 percent at 12,855 in opening deals after gaining 0.4 percent the previous day.

Volkswagen was down about half a percent after German prosecutors imposed a 1 billion euros fine on the automaker in connection with its emissions-cheating scandal.

Bertrandt Group lost about 2 percent after posting disappointing first-half financial results.

Leasing company Grenke slumped almost 6 percent after announcing a capital increase.

On the data front, Germany's consumer price inflation accelerated, as initially estimated, on energy prices in May, final data from Destatis showed.

Consumer prices climbed 2.2 percent year-on-year in May, faster than the 1.6 percent increase in April but in line with the estimate published on May 30.

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