Plus   Neg

DAX Slides As Risk Sentiment Deteriorates

German stocks fell on Tuesday as a slew of negative catalysts such as Brexit uncertainty, Argentina's political uncertainty and persistent unrest in Hong Kong dented sentiment.

The benchmark DAX was down 27 points or 0.24 percent at 11,651 after closing 0.1 percent lower the previous day.

Lender Commerzbank dropped half a percent and Deutsche Bank fell more than 2 percent as global bond yields continued to drop towards record lows.

Henkel shares slumped 5.5 percent after the consumer goods firm slashed its annual outlook for sales and earnings, citing a slowdown in China.

Meal-kit delivery firm HelloFresh soared 7.5 percent as it reported its first quarterly underlying operating profit since it listed in 2017.

Tour operator TUI jumped more than 3 percent as it stuck to its earnings guidance for the full year.

Osram Licht shed 0.8 percent. The lighting firm confirmed that it has received a buy-out proposal from AMS.

In economic releases, Germany's consumer price inflation rose to a 3-month high in July, as estimated, largely driven by food and energy prices, final data from Destatis showed.

The consumer price index climbed 1.7 percent year-on-year following a 1.6 percent increase in June. This was the highest since April and the rate came in line with the estimate published on July 30.

Wholesale prices eased in July for the first time in nearly three years.

The ZEW headline economic sentiment index for August came in at -44.1 versus -28.5 expectations.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT