German shares slid on global growth concerns

German shares declined on Tuesday despite positive data from the US.  Concerns over the global economic instability continued to weight down on German stocks. German DAX Index lost 0.59% to trade at 6,941.62 at GMT 12:00. Eight out of nine industries retreated. Utilities managed to climb. RWE slid by 1.18% while E.ON added 0.93%.The biggest losers were telecommunications and technology companies. Deutsche Telekom and SAP dropped by 1.01% and 0.63%. Financials were mixed. Commerzbank climbed by 0.76% while Deutsche Bank declined by 0.44%.