German shares are trading in the negative territory on Tuesday despite positive news from Eurozone. On Tuesday, Spain sold the targeted amount of debt with lower borrowing costs. Moreover, German ZEW economic sentiment index advanced more-than-expected in August. The German DAX Index slumped 0.70% to trade at 7,351.78. Only three sectors included in the index rose. The top-performers were consumer services and basic materials, climbing 0.44% and 0.28%. Shares of BASF and Linde moved higher by 0.17% and 0.80%. At the same time, financials and telecommunications sent German blue chips lower. Commerzbank and Deutsche Bank plunged 3.35% and 4.10% while Deutsche Telecom slid 1.44%. On the downside was also Merck, retreating 1.11%. The pharmaceutical company withdraw its application to sell its drug, Erbitux, as European regulators demanded more clinical data.