German stocks tumble; retailers weight

Note: This section contains information in English only.
Source: Dukascopy Bank SA

German stocks fell on Friday ahead of Spanish bank's stress test results. Pessimistic news from the US also created heavy pressure on German equities. Adding to the negative mood of German blue chips, the country's retail sales rose 0.3% last month compared to a forecast of a 0.5% increase. The DAX Index lost 0.75% to trade at 7,235.05. All sectors included in the index tumbled. The worst-performers were utilities and telecommunications. E.ON and RWE slid 1.57% and 1.29% while Deutsche Telecom slumped 1.02%. Financial institutions also retreated, with Commerzbank and Deutsche Bank plunging 1.43% and 1.06%.


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