DAX Falls On Growth Worries

RTTNews | 1058 days ago
DAX Falls On Growth Worries

(RTTNews) - German stocks fell sharply on Thursday as Federal Reserve chair Jerome Powell acknowledged the possibility of a recession and data showed German manufacturers saw business activity slump to its lowest level in 23 months in June.

The flash composite PMI, which tracks the manufacturing and services sectors that together account for more than two-thirds of the German economy, dropped to 51.3 from 53.7 in May.

The benchmark DAX fell 151 points, or 1.2 percent, to 12,993 after tumbling 1.1 percent the previous day.

Siemens Energy shares declined 2 percent. The German energy company and France's Air Liquide have announced a joint venture for the series production of industrial scale renewable hydrogen electrolyzers in Europe.

Real estate group Aroundtown plunged nearly 10 percent after J.P. Morgan downgraded the stock to "underweight".

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RTTNews | 3h 43min ago
Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

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RTTNews | 5h 32min ago
European Stocks Close Week On Positive Note

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RTTNews | 5h 55min ago
Canadian Market Recovers After Weak Start; TSX Up Marginally

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RTTNews | 6h 43min ago
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U.S. Import, Export Prices Unexpectedly Inch Higher In April

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Eurozone Trade Surplus Surges On Exports To US

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