Frankfurt (Reuters) - Investors on the German stock market kept their feet still on Wednesday a few hours before the congressional hearing of US Federal Reserve Chairman Jerome Powell. The Dax was treading water at 17,700 points in the morning. In the afternoon (from 4 p.m. CET), Powell is likely to reiterate his stance before the House of Representatives that it is still too early for a rate cut in March. In the evening, the US Federal Reserve will also present its economic report (Beige Book). Investors will also be eyeing the figures on employment in the USA from private provider ADP, which could send signals for the official labor market report on Friday.

The fragrance and flavor manufacturer Symrise, on the other hand, impressed investors. Adjusted operating profit (EBITDA) fell by just under two percent to 903.5 million last year, which was less than expected. The shares rose by 4.6 percent to the top of the Dax.

(Report by Anika Ross, edited by Sabine Ehrhardt. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)