German shares retreat on Monday

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Source: Dukascopy Bank SA
European stocks stayed flat on Monday as reports on U.S. economic data showed that durables orders advanced while pending house-sales retreated. The DAX index erased 0.3%, or 23.62 points, to 7,833.75. All but one group in the gauge declined with utilities pairing biggest losses, as they tumbled 1.62%, followed by health care and consumer services that retreated 0.62% and 0.43%, respectively. Among worst performers were E.ON SE that slumped 2.2% and dragged down utilities, while Lanxess AG shares erased as much as 1.9% to pace gains in basic materials that were 0.35% down. Furthermore, ThyssenKrupp faltered 1.6% also pacing a decrease in basic materials. Among best performers were Deutsche Bank with a 1% increase that led gains in financial shares, Deutsche Post that surged 0.9% that capped further losses in industrials that lost 0.41%. Volkswagen posted third biggest rally among all blue chips with its shares soaring 0.5% to also pace gains in industrial shares.
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