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DAX Drifts Lower As Dollar Falls

German stocks opened a tad lower on Tuesday despite Wall Street striving to recoup more of last week's heavy losses and Asian markets finishing mostly higher today after the announcement of U.S. President Donald Trump's infrastructure plan.

The euro strengthened against the dollar ahead of U.S. inflation data due on Wednesday, a report that may offer further clues on the pace of interest rate hikes in the U.S.

The benchmark DAX was down 38 points or 0.31 percent at 12,244 in opening deals after rallying 1.5 percent in the previous session.

Copper smelter Aurubis tumbled nearly 4 percent on reports that it is in advanced talks to sell its flat rolled products unit to Wieland-Werke AG.

Travel and tourism company TUI rallied 4 percent after the company narrowed its first-quarter loss and affirmed its FY18 outlook.

Metro AG rose over 1 percent. The wholesale retailer confirmed its FY guidance after nearly doubling its quarterly earnings.

by RTT Staff Writer

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