DAX 30 slumps after S&P places Euro-countries on Creditwatch

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Source: Bloomberg

After two day gains German DAX Index dropped as Standard & Poor's positioned Germany and 14 other Euro-region countries on monitoring for potential rating downgrades. DAX lost 0.7% reaching 6,062.66 led by RWE AG, German 2nd largest utility company which plunged 9.1% after it had to raise $2.8 bn in a stock sale to lower debt. Metro AG (MEO) fell 9.9% after retail firm cut its profit outlook. Deutsche Bank AG (DBK) and Commerzbank AG (CBK) both declined about 1%. 

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Tue, 06 Dec 2011 15:02:33 GMT

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