logo
Plus   Neg
Share
Email

DAX Drifts Lower As Focus Shifts To Earnings

German stocks fell on Tuesday as investors await the signing of a phase-one trade deal between the U.S. and China.

There are signs of a thawing in relations after the U.S. Treasury Department dropped China's designation as a currency manipulator and China reportedly pledged to buy nearly an additional $80 billion of U.S. manufactured goods over the next two years.

Focus now shifts to the fourth-quarter corporate earnings season, with
Citigroup, JPMorgan Chase and Wells Fargo reporting their results before the U.S. opening bell.

The benchmark DAX was down 57 points, or 0.43 percent, at 13,394 after closing 0.2 percent lower the previous day.

Specialty chemicals firm Evonik slumped 4 percent after its controlling shareholder sold a 5.2 percent stake at a discount.

Dialog Semiconductor declined 1.4 percent after its preliminary revenue for the fourth-quarter fell to $381 million from $431 million last year.

Sugar producer Suedzucker plunged 6 percent as its Q3 net loss widened.

HELLA GmbH & Co. KGaA rose about 1 percent after unveiling its first-half results.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT
>