DAX Slips Into Red On Earnings; Siemens Falls Over 4%

(RTTNews) - German stocks were slightly lower on Thursday, after having gained notably the previous day on expectations surrounding possible interest-rate cuts by the Federal Reserve this year.

The benchmark DAX was down 34 points, or 0.2 percent, at 18,835 after climbing 0.8 percent the previous day.

Automakers BMW and Daimler Truck were up 0.6 percent 2 percent, respectively.

Siemens shed 4.2 percent after the company posted a drop in its second-quarter earnings at its industrial business.

Freenet lost 2.6 percent after its first quarter Group EBITDA decreased to 124.2 million euros from the previous year's 128.1 million euros.

Deutsche Telekom slipped half a percent. The telecom major reported that its first-quarter net profit plunged 87.1 percent to 1.98 billion euros from last year's 15.36 billion euros.