Germany stocks lower at close of trade; DAX down 1.24%

INVESTING.COMJun 3, 4:06 PM UTC

Key insights

  • German stock indices closed lower, with the DAX down 1.24%, led by losses in software, media, and telecoms. While some companies like RWE and Merck KGaA hit highs, major decliners included SAP and Deutsche Bank. This broad European market weakness could signal a risk-off sentiment, potentially impacting global markets if the trend persists, though direct US influence is moderate at this stage.
Germany stocks lower at close of trade; DAX down 1.24%

Investing.com – Germany stocks were lower after the close on Wednesday, as losses in the Software, Media and Telecoms sectors led shares lower.

At the close in Frankfurt, the DAX fell 1.24%, while the MDAX index lost 0.65%, and the TecDAX index fell 1.19%.

The best performers of the session on the DAX were RWE AG ST O.N. (ETR:RWEG), which rose 3.66% or 2.02 points to trade at 57.14 at the close. Meanwhile, Merck KGaA (ETR:MRCG) added 2.10% or 2.75 points to end at 133.50 and Bayer AG NA (ETR:BAYGN) was up 1.76% or 0.60 points to 34.70 in late trade.

The worst performers of the session were Scout24 AG (ETR:G24n), which fell 5.34% or 4.05 points to trade at 71.80 at the close. SAP SE (ETR:SAPG) declined 4.25% or 6.92 points to end at 155.94 and Deutsche Bank AG NA O.N. (ETR:DBKGn) was down 3.65% or 1.02 points to 26.93.

The top performers on the MDAX were Redcare Pharmacy NV (ETR:RDC) which rose 5.44% to 50.40, Aixtron SE (ETR:AIXGn) which was up 4.14% to settle at 60.32 and Hochtief AG (ETR:HOTG) which gained 3.12% to close at 495.20.

The worst performers were TeamViewer AG (ETR:TMV) which was down 7.40% to 5.89 in late trade, Nemetschek AG O.N. (ETR:NEKG) which lost 5.20% to settle at 62.00 and Stroeer SE (ETR:SAXG) which was down 4.97% to 35.54 at the close.

The top performers on the TecDAX were SUSS MicroTec SE (ETR:SMHNn) which rose 4.20% to 97.95, Aixtron SE (ETR:AIXGn) which was up 4.14% to settle at 60.32 and 1&1 AG (ETR:1U1) which gained 1.69% to close at 24.00.

The worst performers were TeamViewer AG (ETR:TMV) which was down 7.40% to 5.89 in late trade, Cancom SE O.N. (ETR:COKG) which lost 5.56% to settle at 27.20 and Nemetschek AG O.N. (ETR:NEKG) which was down 5.20% to 62.00 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 417 to 204 and 24 ended unchanged.

Shares in Merck KGaA (ETR:MRCG) rose to 52-week highs; gaining 2.10% or 2.75 to 133.50. Shares in Aixtron SE (ETR:AIXGn) rose to all time highs; gaining 4.14% or 2.40 to 60.32. Shares in SUSS MicroTec SE (ETR:SMHNn) rose to all time highs; up 4.20% or 3.95 to 97.95. Shares in Aixtron SE (ETR:AIXGn) rose to all time highs; rising 4.14% or 2.40 to 60.32.

The DAX volatility index, which measures the implied volatility of DAX options, was down 3.32% to 18.57.

Gold Futures for August delivery was down 1.09% or 49.15 to $4,470.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 2.11% or 1.98 to hit $95.74 a barrel, while the August Brent oil contract rose 1.83% or 1.76 to trade at $97.76 a barrel.

EUR/USD was unchanged 0.25% to 1.16, while EUR/GBP unchanged 0.06% to 0.86.

The US Dollar Index Futures was up 0.28% at 99.46.

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