Germany's stock market closed lower on Wednesday, with weakness concentrated in the Software, Media and Telecoms sectors dragging the major indices down.
At the close in Frankfurt the benchmark DAX index fell 1.24%. Mid-cap stocks, measured by the MDAX, ended down 0.65%, and the TecDAX lost 1.19%.
Top movers on the DAX
Among DAX-listed names, RWE AG ST O.N. (ETR:RWEG) posted one of the larger gains, rising 3.66% or 2.02 points to finish at 57.14. Merck KGaA (ETR:MRCG) added 2.10% or 2.75 to close at 133.50, while Bayer AG NA (ETR:BAYGN) advanced 1.76% or 0.60 to 34.70.
On the other side of the tape, Scout24 AG (ETR:G24n) was the weakest DAX stock, slipping 5.34% or 4.05 points to 71.80 at the close. SAP SE (ETR:SAPG) fell 4.25% or 6.92 to 155.94, and Deutsche Bank AG NA O.N. (ETR:DBKGn) declined 3.65% or 1.02 to 26.93.
MDAX and TecDAX highlights
In the MDAX universe, Redcare Pharmacy NV (ETR:RDC) led the gainers with a 5.44% rise to 50.40. Aixtron SE (ETR:AIXGn) gained 4.14% to settle at 60.32, and construction group Hochtief AG (ETR:HOTG) added 3.12% to close at 495.20.
Losses in the MDAX included TeamViewer AG (ETR:TMV), which tumbled 7.40% to 5.89, Nemetschek AG O.N. (ETR:NEKG), down 5.20% to 62.00, and Stroeer SE (ETR:SAXG), which dropped 4.97% to 35.54.
On the TecDAX, SUSS MicroTec SE (ETR:SMHNn) rose 4.20% to 97.95. Aixtron SE (ETR:AIXGn) again appeared among the leaders with a 4.14% gain to 60.32, and 1&1 AG (ETR:1U1) added 1.69% to close at 24.00.
Market breadth and notable technical levels
Declining issues outnumbered advancing ones on the Frankfurt Stock Exchange by 417 to 204, while 24 stocks finished unchanged. Several names reached new peaks during the session: shares of Merck KGaA (ETR:MRCG) rose to 52-week highs at 133.50 after a 2.10% gain. Aixtron SE (ETR:AIXGn) climbed to all-time highs, rising 4.14% to 60.32, and SUSS MicroTec SE (ETR:SMHNn) also reached an all-time high, up 4.20% to 97.95.
The DAX volatility index, which gauges implied volatility on DAX options, moved lower by 3.32% to 18.57.
Commodities and currencies
In commodity markets, Gold Futures for August delivery were reported down 1.09% or 49.15 to 4,470.75 a troy ounce. Crude oil for July delivery rose 2.11% or 1.98 to $95.74 a barrel, while the August Brent contract increased 1.83% or 1.76 to $97.76 a barrel.
On the currency front, EUR/USD was unchanged 0.25% at 1.16, and EUR/GBP was unchanged 0.06% at 0.86. The US Dollar Index Futures advanced 0.28% to 99.46.
Other movers mentioned in session data
Additional listings and intraday tickers reflected moves across sectors and indices. The summary tape included symbols and moves such as DE40 down 1.24%, MDAXI down 0.65%, TECDAX down 1.19%, GC down 1.16%, LCO up 2.00%, CL up 2.31%, CXPSX down 4.25% and V1XI down 3.32%. Cancom SE O.N. (ETR:COKG) was cited among the session laggards, losing 5.56% to 27.20.
Overall, the session closed with broad selling across software, media and telecom names, while pockets of strength were visible in utilities and selected industrial and pharmaceutical stocks.