DAX Tumbles On Disappointing Earnings

RTTNews | 677日前
DAX Tumbles On Disappointing Earnings

(RTTNews) - German stocks tumbled on Thursday, with interest-rate worries and a slew of downbeat earnings denting investor sentiment.

The benchmark DAX was down 187 points, or 1.3 percent, at 14,704 after finishing marginally higher the previous day.

Lender Commerzbank fell 2.6 percent and peer Deutsche Bank declined 1.6 percent.

Luxury carmaker Mercedes-Benz slumped nearly 6 percent after saying it expects pressure on car sales margins.

Peer BMW tumbled 3.5 percent while Volkswagen gave up 1.5 percent after taking a major hit to its Q3 profit from raw material hedges.

Chip systems manufacturer Aixtron rose about 1 percent after reporting a significant increase in third-quarter net profit and revenue.

Meal-kit maker HelloFresh plummeted almost 11 percent after reporting revenue below expectations for the third quarter.

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