German DAX boosted by financials

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP

German DAX 30 Index followed its British peer and opened 0.4% lower on Tuesday morning after sharp gains during Monday trade. Weaker opening was mainly caused by anxiety that S&P rating agency said it may cut credit rating of France. During the day session the index recovered and climbed 1% fuelled by financial institutions. Insurer Allianz SE gained 2.8% while Commerzbank AG added 2.3%. Among decliners was Daimler AG's shares which dropped 0.6% as Deutsche Bank informed on increasing risk of drop in Daimler's earnings. At the moment of writing German DAX trades flat.

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Tue, 29 Nov 2011 15:44:14 GMT

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