Auto stocks take a punch as DAX drops nearly 1.5%

Friday, 03. January 2020 14:16

Deutsche Boerse's DAX stock index plunged nearly 1.5% on Friday amid a global sell-off, dealing a blow to automakers' shares. Investor sentiment dampened around the globe following the killing of one of Iran's most prominent military officials, Qassem Soleimani, in a move that rekindled US-Iran tensions anew.

Daimler's shares dropped 2.01% at 2:14 pm CET after the latest figures revealed that the automaker sold 4% fewer vehicles in 2019 compared to the year prior. Volkswagen was down 2.17% at 2:15 pm CET a day after it was announced that the company is holding discussions on a potential settlement regarding the "dieselgate" scandal. BMW also struggled, with shares losing 1.54% at 2:16 pm CET as the Munich-based vehicle manufacturer revealed it would no longer make its BMW 3 Series Gran Turismo model.

Related Links: BMW AGDaimler AGVolkswagen AGDeutsche Lufthansa AG
Breaking the News / GG