German DAX breaches European upward trend on Tuesday

Although European markets mostly rose on Tuesday as investors awaited the outcome of G-7 meeting, German stocks prolonged their losses. German DAX edged down almost 0.7% after data showed German Factory Orders plunged 1.9% instead of a drop of 1%. Moreover Spanish budged minister Montoro called for aid for Spain. Utilities weighed on the index with RWE AG sinking 1.4% and E.On falling 1.6%. At the moment of writing DAX trades 0.8% or 50 points down at 5,930.