DAX Dips On Virus Worries

By RTTNews Staff Write  ✉   | Published:

German stocks declined on Monday as policymakers called for renewed travel restrictions amid rising Delta variant coronavirus cases.

The German government has warned against travel to Catalunya and Cantabria as COVID cases soar.

The benchmark DAX dropped 42 points, or 0.3 percent, to 15,607 after rising 0.3 percent on Friday.

The downside remained capped after data showed activity in Germany's service sector grew in June at its fastest pace since March 2011.

IHS Markit's final services PMI measuring activity in the sector grew to 57.5 from 52.8 in May as lockdown measures were lifted. However, the reading was lower than a flash value of 58.1.

Automakers BMW, Daimler and Volkswagen fell between 0.3 percent and 0.7 percent, while airline Lufthansa climbed 1.3 percent.

Banks Commerzbank and Deutsche Bank rose 0.8 percent and 0.6 percent, respectively.

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