German equities decline; utilities weight

Source: Dukascopy Bank SA
© Scanpix/Reuters
German equities fell on Wednesday on persistent pressure from looming US fiscal cliff. Weak eurozone's industrial production numbers also sent German blue chips lower. The DAX Index declined 0.57% and is currently trading at 7,127.96. Only three in nine sectors climbed. Technology and consumer services sectors were the best performers. Deutsche Lufthansa added 0.24% after resolving labour dispute with its crew. Meanwhile, Infineon Technologies was the top-gainer, advancing 5.34% after revealing that it plans to cut spending next year in wake of upbeat quarterly results. At the same time, Infineon Technologies added that it expects revenues and profit margins to drop due to global economic weakness. On the downside, utilities fell 1.45%, with E.ON and RWE declining 2.70% and 0.38%.


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