German DAX index lower on Spanish downgrade

Note: This section contains information in English only.
Source: Dukascopy Bank SA
German DAX index retreated from previous gains on Friday after data showed country's exports declined by 1.7% compared to March. Moreover Fitch Ratings cut the sovereign grade for Spain. Export oriented companies posted loss. Volkswagen AG fell 1.8% and BMW AG declined 1.7%. Industrial component producer ThyssenKrupp dropped most in the index, giving up 3.4%. On the upside E.ON that operates in power generation and gas production sector, added 1.4%. At the moment of writing DAX index trades 0.57% or 35 points down at 5,109.2.

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