German stocks fell on Thursday to extend losses from the previous session as a global tech selloff intensified and a survey showed German business morale unexpectedly fell in July.
The Ifo institute’s business climate index sank to 87.0 in July from 88.6 in June amid increasing pessimism about the performance of Europe’s largest economy.
The benchmark DAX was down 244 points, or 1.3 percent, at 18,143 after losing 0.9 percent in the previous session.
Semiconductor parts maker Aixtron AG fell 2.6 percent after revising down the annual revenue outlook for the third quarter.
Agriculture group BayWa rallied 2.7 percent on reports that Swiss energy investor Energy Infrastructure Partners (EIP) is seeking to increase its stake in the company’s renewable energy unit.
Vossloh, an international technology group focused on rail products including switches, signals and crossings, rose over 2 percent after reporting a rise in first-half net income.
Wind turbine maker Nordex gained 1 percent after narrowing its half-year net loss and lifting its FY24 EBITDA margin view.
Market Analysis
DAX Extends Losses As Business Sentiment Weakens
2024-07-25 08:52:53
