DAX Slips On Growth Concerns
(RTTNews) - German stocks traded lower on Friday after data showed the country's business activity slowed notably this month due to a combination of a slower rise in service sector business activity and a deepening downturn in manufacturing output.
The HCOB German Flash Composite PMI, compiled by S&P Global, fell to 50.8 in June from 53.9 in May.
The benchmark DAX was down 94 points, or 0.6 percent, at 15,894 after declining 0.2 percent in the previous session.
Siemens Energy shares plummeted over 31 percent. The company, which supplies equipment and services to the power sector, withdrew its profit guidance for fiscal year 2023 due to Siemens Gamesa citing a substantial increase in failure rates of wind turbine components.
Industrial engineering and steel production company Thyssenkrupp fell nearly 2 percent on reports that its Nucera hydrogen unit is seeking to raise as much as €566 million ($615 million) in an initial public offering.
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Swiss Market Ends On Weak Note
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U.S. Leading Economic Index Unexpectedly Edges Lower In August
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