DAX Down Sharply On Weak PMI Data
(RTTNews) - Germany's equity benchmark DAX tumbled on Tuesday, led by those from the tech sector following a strong bout of profit taking in the sector on Wall Street on Monday.
Weak German Services PMI data, and uncertainty about US-Israel peace pact amid conflicting reports over Iran nuclear monitoring weighed on sentiment.
The DAX was down 325.59 points or 1.3% at 24,814.10 a few minutes ago.
Siemens Energy fell 5.5%. Shares of global infrastructure solutions provider Hochtief dropped 5.2%. Infineon Technologies drifted lower by about 5.1%.
Vonovia, Siemens and Volkswagen lost 2.4%-2.5%. Heidelberg Materials, BASF, Deutsche Bank, Continental, Commerzbank, BMW, Zalando, Munich RE and Daimler Truck Holding shed 1%-2.2%.
SAP moved up 1.8%. Deutsche Telekom and Qiagen gained 1.5% and 1.3%, respectively. Fresenius Medical Care, Deutsche Boerse, Merck and Scout24 posted modest gains.
The S&P Global Flash Germany Composite PMI fell to 48 in June 2026 from 48.8 in May, missing market expectations of 49.9. The reading signaled a third consecutive month of contraction in private-sector activity and the steepest decline since December 2024. Services PMI fell to a 43-month low of 46.8 from 48.1. The manufacturing output expanded at a slightly faster pace with the PMI score coming in at 50.8, up from 50.4 a month earlier.
