German equities sink amid weak risk appetite

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Source: Dukascopy Bank SA
© Scanpix/Reuters
German equities plunged on Friday as risk appetite remained weak after the data indicated that the eurozone's economy fell back into recession. Moreover, looming US fiscal cliff and uncertainty over what the leadership change in China will bring created heavy pressure on German blue chips. The DAX index lost 0.69% and is currently trading at 6,994.94. All but one sector within the index dropped. The only gainer was technology sector, with SAP climbing 1.48%. Sending German stock index lower, consumer services and financials dived 2.02% and 1.63%. Deutsche Lufthansa shed 0.8%, while Commerzbank and Deutsche Bank declined 3.9% and 2.32%. Meanwhile, Henkel sagged 4.96% after its sales missed estimates.


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