DAX Declines On China Growth Concerns
(RTTNews) - German stocks fell notably on Friday as China growth concerns persisted and a Federal Reserve official said there is more work to get inflation back to the 2 percent target. China's biggest property developer Country Garden has warned of a loss of up to $7.6bn (£6bn) for the first six months of the year, highlighting the major issues faced by the world's second-largest economy.
The benchmark DAX was down 112 points, or 0.7 percent, at 15,884 after gaining 0.9 percent the previous day.
Steel producer Salzgitter AG fell about 1 percent. The company affirmed its full-year sales guidance after reporting earnings before tax of 242.6 million euros for the first half of the year, significantly lower than 970.5 million euros in the comparable period last year.
Bechtle AG, a provider of information technology systems and technology, soared over 5 percent after posting better-than-expected pre-tax profit for the second quarter.
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