logo
Plus   Neg
Share
Email

DAX Extends Loses Amid Bond Selloff

German stocks fell on Friday to extend losses from the previous session, with a rout in global bond markets and concerns of lofty equity valuations keeping underlying sentiment cautious.

The benchmark DAX dropped 40 points, or 0.3 percent, to 13,838 after losing 0.7 percent in the previous session.

Chemicals giant BASF was down 0.6 percent. The company expects 2021 earnings to rise as much as 38 percent if lockdown measures are eased.

Telecommunications company Deutsche Telekom gained 0.7 percent after its fourth-quarter profit soared on higher revenue.

In economic releases, German import prices continued to fall in January, while export prices grew for the first time in eleven months, data from Destatis revealed.

For comments and feedback contact: editorial@rttnews.com

Follow RTT