German shares pair losses amid financial regulator's decison

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Source: Dukascopy Bank SA
German shares paired their biggest losses in a week as Bafin, the nation's financial regulator, said he would ask Deutsche Bank AG to stimulate a split, offsetting positive data on investor confidence that improved this month. The DAX index retreated 0.8% to 7,690.64 points. All but two groups in the benchmark index declined. The gauge was also dragged down by the banking shares, as Commerzbank paired biggest losses by retreating 2.6% and Deutsche Bank erased 1.9%, yet rebounding from its earlier 4% decrease. RWE AG, one of the biggest German utility providers, slipped 2.4% to pace a 1.92% plunge in the utilities shares. Meanwhile, Fresenius SE & Co KGaA rose the most among all blue chips, while Fresenius Medical Care AG jumped 0.57% and contributed to a rally in the health care sector that was 0.38% up. Siemens AG, in turn, soared 0.31% to contribute to a 0.1% advance in the industrial group that inched 0.08% higher.
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