FRANKFURT DAX DIPS- Germany’s defence industry shares dive ahead of Trump-Putin meeting.
Germany’s DAX was flat some two and a half hours into trading today, while arms makers’ shares were moving lower ahead of a planned meeting between U.S. President Donald Trump and his Russian counterpart, Vladimir Putin, later this week.
German companies Rheinmetall, Renk and Hensoldt were down between 2.7% and 4.8%. A basket of aerospace and defence names was off 1.8%, the worst-performing sector in Europe.
The best off meanwhile is healthcare as Novo Nordisk rose 2.6% and Italy’s Recordati was up 2.4%.
But the biggest faller overall was Danish offshore wind developer Orsted, which announced a $9.4 billion rights issue plan. Shares were down 27.2% at the bottom of the index.
In the UK, online trading platform Plus500 shares were down 4.6% after half-year results and the launch of a $165 million share buyback.
