Daxx index declines from record

Germanys stocks declined today for the first time in more than a week. Daxx Index is down by 0.19% today. German banks Commerzbank AG and Deutsche Bank AG reported substantial daily drops after JP Morgan Chase downgraded their shares ratings. The benchmark index is up 11% this year mainly due to the stimulus government offered for central banks.

At the automakers industry Daimler, the worlds third biggest manufacturer of luxury cars slumped by 3.3%, going down for the first time in a week. Volkswagen followed by a 1.7% decline. Continental AG, continents second largest auto part manufacturer lost 2% after the Swiss financial service company UBS AG added the stock to its least-preferred list.

Germanys PPI index, also known as a Wholesale price index, influenced daily decline of the benchmark Daxx Index as falling down from estimates to -.02% on a monthly basis.