Dax falls to one year low
German stock market index DAX has fallen to a one year low on Friday, following a range of weak macroeconomic data in Germany.
Having hit the historic record of 10.000 point only months earlier, in July, the DAX now fell to 8.807 points by noon CET, the lowest level since October 2013.
While the Dax has been the best performing eurozone equity index since 2008, it now suggests that the German economy is facing challenges, as reflected in the drop of exports for the month of August by-5.8%, while industrial output fell by 4%.
The decline of the Dax comes as a number of other indices, including the FTSE100, the Cac40 and the Ibex have fallen over the past days.