DAX Index drops after Moody's lowered German credit outlook

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Source: Dukascopy Bank SA

German stocks were mostly lower after Moody's lowered the credit outlook for the country. Larger than expected contraction of German PMI in June also added pressure on the country's stocks.  German DAX 30 Index eased down 0.04% to trade at 6,411.06 at the time of writing. SAP led the technology industry higher after reporting a 12% surge in earnings in Q2. Meanwhile, utilities and financials pushed DAX Index lower. RWE and E.ON declined 1.42% and 1.45%. At the same time, Deutsche Bank lost 0.04% while Commerzbank rose 1.15%.

 

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Tue, 24 Jul 2012 17:40:32 GMT

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