German equities drop; Greece, Catalonia in focus

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Source: Dukascopy Bank SA
© Scanpix/Reuters
German stocks declined on mounting concerns over Greece as the Eurozone's finance ministers  meet today to discuss the terms of the next Greek bailout installment.  Moreover, separatist parties won the regional elections in Catalonia this weekend, fuelling worries that Catalonia may seek independence from Spain. The DAX Index lost 0.35% and is currently trading at 7,283.23. Only two in nine sectors advanced. The only gainers were consumer services and utilities. Deutsche Lufthansa rallied 1.19%, while E.ON added 0.11%. At the same time, industrial and technology sectors created heavy pressure on German blue chips index. Siemens dropped 0.96%, while Infineon Technologies slid 1.37%. Meanwhile, ThyssenKrupp was the top-loser, shedding 4.94%. ThyssenKrupp plunged after delaying the sale of its Americas unit until September 2013. Moreover, the company's share rating was downgraded from outperform to neutral at Credit Suisse.


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