DAX 30 pushed down by car makers

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Source: Dukascopy Bank
German DAX index fell on Tuesday pushed down by heavyweight car makers as China increased diesel prices 7% and gasoline prices 6.4%, raising worries about vehicle demand. BMW AG posted the biggest loss for DAX and tumbled 4.8%. Daimler AG dropped 4.4% and Volkswagen AG declined 4.2%. Financials added additional negative pressure with Deutsche Bank and Commerzbank giving up 1.5% and 2.6% respectively. Siemens AG fell 1% on news it will acquire a unit of Expro Holdings. At the moment of writing DAX 30 is 1.24% or 88.57 points down at 7,065.63.

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