DAX Slips On Growth Worries

RTTNews | 721 days ago
DAX Slips On Growth Worries

(RTTNews) - German stocks fell on Tuesday amid growth concerns after a survey showed German manufacturing activity slumped in July.

The headline HCOB Germany Manufacturing PMI dropped to 38.8 in the month, marking the lowest reading since May 2020.

The benchmark DAX was down 112 points, or 0.7 percent, at 16,334 after closing 0.1 percent lower on Monday.

DHL owner Deutsche Post slumped 4.4 percent after it reported a fall in Q2 earnings and revenue.

Commercial vehicle manufacturer Daimler Truck Holding fell more than 2 percent after incoming orders dropped in the second quarter.

TeamViewer jumped 9 percent after the software company reported strong earnings for the second quarter, thanks to higher revenue and lower financial costs.

Real estate investment manager Patrizia SE dropped half a percent after an announcement that Asoka Woehrmann, its CEO Designate since May, has taken over the position of sole CEO from Wolfgang Egger effective today.

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RBA Board Says Another Rate Cut Inconsistent With Cautious Stance, Minutes Show

RBA Board Says Another Rate Cut Inconsistent With Cautious Stance, Minutes Show

Reserve Bank of Australia's policymakers said cutting the interest rate for a third straight time within the gap of four meetings would be inconsistent with the cautious monetary policy stance, the minutes of the July monetary policy meeting showed Tuesday. Majority of members said that it would be prudent to wait for confirmation that inflation would sustainably return to target as forecast.
RTTNews | 59 minutes ago
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Australian Market Trims Early Gains In Mid-market

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