FRANKFURT (dpa-AFX) – The German stock market began August on a weak note. On Friday, slashed corporate forecasts led to sometimes significant share price losses. Additional pressure came from mixed earnings reports by US tech giants Apple and Amazon, as well as investor caution ahead of the eagerly awaited monthly US employment data due in the afternoon.
The leading German index, the Dax, dropped 1.2 percent in early trading to 23,776 points, slipping back to levels last seen at the beginning of July. For the week, the index is on track for a loss of more than one percent. The MDax, which tracks mid-sized companies, fell by one percent to 30,688 points on Friday. The Eurozone blue-chip index, the EuroStoxx 50, lost 1.1 percent.
