DAX Falls On Growth Worries

German stocks were moving lower on Tuesday after a survey showed the country's services sector grew at its slowest pace in five months in June, accompanied by a slight dip in manufacturing output.

The downside remained capped after reports that U.S. President Joe Biden was contemplating rolling back some tariffs on Chinese imports, and that Chinese Vice Premier Liu He had a "constructive" virtual dialogue with U.S. Treasury Secretary Janet Yellen.

The benchmark DAX dropped 100 points, or 0.8 percent, to 12,673 after declining 0.3 percent on Monday.

Online food-delivery service Delivery Hero SE rallied 2.4 percent. The company said it has successfully taken all closing actions for the transaction in relation to GlovoApp23 S.A.

Deutsche Post DHL fell about 1 percent. The package delivery and supply chain management company said that its division, DHL eCommerce Solutions, is investing 560 million euros across its UK ecommerce operation- DHL Parcel UK.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT