Tuesday 12 December 2017

Dax drags on European shares as results disappoint

THE DAX led European shares lower on Friday as Germany's benchmark index underperformed its southern European peers, weighed on by a recent spate of underwhelming company results.

The DAX fell 0.6pc to 8,246.96 and the FTSEurofirst 300 provisionally closed down 0.3pc at 1,205.70, with investors unsettled this week after profit warnings from some of Germany's leading companies.

Deutsche Boerse fell 3.7pc after its second-quarter earnings slightly missed the consensus forecast.

Steelmaker ThyssenKrupp also fell nearly 2.7pc after a media report that late-stage talks over the sale of an unprofitable unit had hit a snag, while carmaker Daimler dipped 2.4pc.


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