German DAX flat amid confidence data and Cyprus bailout request

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Source: Dukascopy Bank SA
German DAX index moved higher in the first half of session on Tuesday as German confidence data for July unexpectedly improved. Gains however were limited amid Cyprus request for bailout and Spanish debt auction. BMW AG tumbled 3% after Citigroup Inc. lowered its recommendation on the world's largest producer of luxury cars. Other car maker Daimler AG shed 1.9%. One the upside E.ON AG rallied 2.8% after Bank of America Corp. lifted stock rating. At the moment of writing DAX 30 trades flat at 6,133.

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