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German stocks dropped on Wednesday afternoon
after German Chancellor Angela Merkel's government rejected any proposal
to merge Eurozone's current and perpetual rescue funds. German
government also expressed concerns regarding positive outcome of upcoming summit
due December 9. DAX 30 index lost 1.1% to 5,964.45 after surging almost
1.8%. Banks, retailers and transportation stocks pushed on the index. Deutsche
Bank AG edged down 3%, Metro AG extended loss 3.4% after yesterday's downgrade
and Deutsche Lufthansa AG plunged 3.1% as International Air Transport
Association cut airlines' profit outlook.