logo
Plus   Neg
Share
Email

DAX Subdued Amid Trade Worries

German stocks were subdued on Wednesday as U.S. President Donald Trump's latest comments about the ongoing U.S.-China trade war dashed hopes of a deal anytime soon.

In addition, robust U.S. retail sales data released overnight helped lower expectations of an interest rate cut by the U.S. Federal Reserve.

The benchmark DAX was down 9 points at 12,421 in opening deals after rising 0.4 percent on Tuesday.

Brenntag AG shares fell 1 percent. The chemical wholesaler adjusted its full year outlook, saying there was a noticeable slowdown in demand in June leading to an impact on earnings.

Dialog Semiconductor rallied nearly 3 percent. The chip designer said it now sees higher-than-anticipated profitability and revenues in the second quarter.

Automakers BMW and Daimler were moving lower after industry data showed Europe's new car registrations declined notably in June.

Car sales decreased 7.8 percent year-on-year in June, reversing a 0.1 percent rise in May. This was the biggest fall seen so far this year.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT
>