Germany's benchmark DAX index drops

The benchmark DAX index at the Frankfurt Stock Exchange on Wednesday dropped by 58.08 points and closed at 11,922.77 points.
The investors become prudent before the interest rate-setting meeting of the Federal Reserve of the United States, according to local analysts. The blue-chip index lost 0.48 percent.
Word is circulating that an Arab investor intends to become a stakeholder of the utilities company RWE AG St, driving it 3.65 percent higher. Another utilities company E.ON SE climbed by 1.23 percent. Deutsche Lufthansa AG advanced by 1.16 percent. Muenchener Rueck AG, a reinsurance company, rose by 1.12 percent and K+S Aktiengesellschaft, a standard and speciality fertilizers company, went up by 0.89 percent.
BMW AG St dropped the most by 4.21 percent. Volkswagen AG Vz slipped by 3.15 percent. Continental AG lost 2.73 percent. LANXESS AG, a specialty chemicals company, slid by 2.7 percent and Daimler AG went down by 1.96 percent.
The turnover stood at 5.51 billion euros (around 5.83 billion U.S. dollars). Daimler AG was the most traded share of the day with a turnover of 615.11 million euros (around 651.25 million U.S. dollars).