German shares slide after ECB press conference

Note: This section contains information in English only.
Source: Dukascopy Bank SA

German stocks retreated after the ECB left its benchmark interest rate unchanged. Spanish borrowing costs rose during today's auction, thus sending German blue chips index lower. However, positive data from the US labour market limited losses of the stock index. The DAX Index lost 0.30% and currently is trading at 7,299.77. Five out of nine sectors included in the index climbed. The biggest gains posted consumer goods and financials. Adidas and Beiersdorf advanced 1.26% and 0.53% while Commerzbank and Deutsche Bank rose 0.49% and 0.19%. At the same time, telecommunications and basic materials tumbled 1.75% and 0.66%. Deutsche Telecom and BASF SE dropped 3.09% and 2.17%.

 

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