DAX drops over 1%, SAP leads losses after earnings

Thursday, 18. July 2019 09:23

Germany's DAX dropped over 1% on Thursday after United States President Donald Trump said the European Union was "tougher" than China on trade with the US and investors feared a no-deal Brexit after warnings from EU officials that the UK isn't ready for such a scenario.

The DAX was 0.94% in the red at 9:22 am CET, led by a drop of 6.78% in SAP stocks after the company posted its quarterly earnings which were lower than market expectations.

The CAC 40 lost 0.50% and the FTSE 100 was down 0.48% at the same time,

The euro increased 0.12% against the dollar to go for 1.12382 at 9:26 am CET. The pound was 0.25% higher compared to the US currency and was at 1.24642 at (;26 am CET.

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Breaking the News / VP