6/18/2019, 9:33 AM (Source: TeleTrader)
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DAX falls, dragged down by Infineon, Lufthansa

The DAX was down on Tuesday morning, briefly falling below the 12,000 point mark and losing over 0.70%. The worst performers on the index were chipmaker Infineon Technologies AG and aviation giant Lufthansa AG.

Earlier today, Infineon said it raised €1.55 billion to fund its purchase of Cypress Semiconductor Corp. The stock was down 4.65% at 9:35 am CET. Meanwhile, Lufthansa fell 4.32% at 9:35 am CET after the company cut its growth outlook for this year. Germany's flagship airline cited overcapacity in the Europe network parallel to the increase in competition from low-cost carriers against its own subsidiary Eurowings.

In the meantime, the FTSE 100 was virtually unchanged at 9:37 am CET, only 0.03% in the positive territory. The CAC 40 in Paris was also flat at 9:38 am CET. The DAX was down 0.65% at 9:39 am CET. The euro added 0.18% against the dollar, buying $1.1238 at 9:39 am CET.

Baha Breaking News (BBN) / SS