logo
Plus   Neg
Share
Email

DAX Falls Amid Heightened Geopolitical Tensions

German stocks fell in cautious trade on Monday as geopolitical tensions in the Middle East region escalated and weak data from China added to worries about slowing global growth.

The benchmark DAX was down 83 points, or 0.67 percent, at 12,385 after gaining half a percent on Friday.

Wirecard shares rose over 1 percent. The provider of electronic payment and risk management applications has signed a memorandum of understanding with UnionPay to form a global strategic partnership that will support UnionPay's ongoing international expansion and Wirecard's growth in China.

Volkswagen declined 0.8 percent. The automaker has agreed to pay up to $127 million ($87.3 million) to settle an Australian class action stemming from its 2015 diesel emissions scandal.

Deutsche Lufthansa shares tumbled 2.7 percent as oil prices surged the most on record after a drone strike on a Saudi Arabian oil plant.

For comments and feedback contact: editorial@rttnews.com

Follow RTT
>