Germany Stocks Close Lower as DAX Falls 1.10%
Investors in Germany were disappointed today as Germany stocks closed lower. The DAX fell 1.10%, while the Euro Stoxx 50 index lost 0.41%, and the MDAX index lost 1.27%.
The session saw some winners and losers. The best performers on the DAX were Merck KGaA, which rose 1.19% or 1.90 points, E.ON SE, which added 1.05% or 0.12 points, and Beiersdorf AG O.N., which was up 0.97% or 1.15 points.
On the other hand, the worst performers on the DAX were Deutsche Bank AG NA O.N., which fell 3.84% or 0.39 points, Commerzbank AG O.N., which declined 3.34% or 0.34 points, and Infineon Technologies AG NA O.N., which was down 3.23% or 1.12 points.
The MDAX, which tracks the performance of 50 mid-cap German companies, had its own batch of winners and losers. The top performers were Gerresheimer AG, which rose by 10.67%, Fraport AG, which was up 7.53%, and Redcare Pharmacy NV, which gained 1.9%. On the other hand, the worst performers were Telefonica Deutschland Holding AG, which was down 2.92%, Knorr-Bremse AG, which lost 2.73%, and Kion Group AG, which was down 2.28%.
In the technology-focused TecDAX, the top performers were United Internet AG NA, which rose 1.59%, Morphosys AG O.N., which was up 1.18%, and Cancom SE O.N., which gained 1.08%. Infineon Technologies AG NA O.N. took a hit, falling 3.23%, followed by Kontron AG, which lost 3.17%, and Verbio Vereinigte Bioenergie AG, which was down 3.10%.
In other stock market news, falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 429 to 222, with 91 ending unchanged. Gerresheimer AG rose to an all-time high, up 10.67% or 11.00 to 114.10, while Telefonica Deutschland Holding AG fell to an all-time low, down 2.92% or 0.05 to 1.78.
In commodities trading, Gold Futures for December delivery fell 0.58% or 11.35 to $1,958.65 a troy ounce. Crude oil for delivery in September rose 0.34% or 0.28 to hit $82.22 a barrel, while the October Brent oil contract rose 0.28% or 0.24 to trade at $85.58 a barrel.
While the US Dollar Index Futures was up 0.53% at 102.40, the EUR/USD was down 0.46% to 1.10, and the EUR/GBP remained unchanged at 0.09% to 0.86.
