German shares sink, financials weight

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Source: Dukascopy Bank SA

German shares declined on Friday amid escalated risk-aversion in the market during meetings between EU leaders to discuss second bailout program of Greece. Mixed Eurozone's data coupled with rising uncertainty over the US stimulus measures created additional pressure on the German's stocks. The German DAX Index retreated by 0.44% to trade at 6,915.91. On the upside were utility and health care companies, with Fresenius Medical Care and E.ON advancing by 0.32% and 0.87%. On the downside were consumer goods and lenders. Among consumer goods, Metro dropped by 0.11%. Meanwhile, financial stocks also pressurized DAX Index. Commerzbank and Deutsche Bank fell by 0.16% and 1.49%.


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