Home / Business and Economy / German Stocks Tumble: DAX Falls 1.04%
German Stocks Tumble: DAX Falls 1.04%
20 Apr
Summary
- Frankfurt's DAX index closed down 1.04% on Monday.
- Software, Construction, and Retail sectors led the decline.
- DAX volatility index reached a new 1-month low.
The German stock market closed lower on Monday, with the DAX index experiencing a significant drop of 1.04%. Losses were primarily driven by declines in the Software, Construction, and Retail sectors. The MDAX and TecDAX indices also followed suit, falling by 1.37% and 1.34% respectively.
Several major companies reported losses, with MTU Aero Engines NA falling 4.33%, SAP SE declining 3.87%, and Volkswagen AG VZO dropping 2.39%. Conversely, RWE AG ST saw a gain of 2.61%, and Commerzbank AG added 1.16%.
In other market indicators, the DAX volatility index reached a new one-month low, decreasing by 8.94% to 19.43. Commodity markets showed mixed results, with crude oil prices rising while gold futures declined. Currency trading saw EUR/USD and EUR/GBP remain relatively stable.
