German DAX 30
Index followed its British peer and opened 0.4% lower on Tuesday morning after
sharp gains during Monday trade. Weaker opening was mainly caused by anxiety
that S&P rating agency said it may cut credit rating of France. During the day
session the index recovered and climbed 1% fuelled by financial institutions. Insurer
Allianz SE gained 2.8% while Commerzbank AG added 2.3%. Among decliners was Daimler
AG's shares which dropped 0.6% as Deutsche Bank informed on increasing risk of drop in
Daimler's earnings. At the moment of writing German DAX trades flat.