German shares decline, lenders cap losses

Note: This section contains information in English only.
Source: Dukascopy Bank SA
German equities are trading in the negative area on Thursday despite upbeat data from the job market. German unemployment unexpectedly dropped this month, improving appetite for riskier assets. The number of individuals without job declined by a seasonally adjusted 16,000, compared with forecast of an increase of 8,000. Meanwhile, weak US GDP reading continued to weigh on German equities. The DAX Index slid 0.12% and is currently trading at 7,803.50. Health care and financial sectors surged the most. Fresenius SE & Co and Merck jumped 1.44% and 0.84%, while Deutsche Bank and Allianz climbed 2.49% and 0.38%. The top-gainer was Infineon Technologies, soaring 4.43% after projecting better results. At the same time, utilities created heavy pressure on German blue chips index. E.ON and RWE plunged 2.61% and 1.26%.
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