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Germany's benchmark DAX index closes lower

Xinhua, May 24, 2016 Adjust font size:

The benchmark DAX index at Frankfurt Stock Exchange on Monday went down and closed at 9,842.29 points.

The proposed combination of Germany's drug and crop chemical company Bayer and the United States seeds company Monsanto raised concern of some investors.

In addition, speculation about a possible rate hike in the United States also weighed on investors' mood, according to local analysts.

The blue-chip DAX index lost 73.73 points, or 0.74 percent.

Infineon Technologies, a semiconductor company, rose by 1.44 percent and adidas added 0.84 percent. Deutsche Lufthansa climbed by 0.81 percent. Merck, a science and technology company, advanced by 0.73 percent. Muenchener Rueckversicherungs-Gesellschaft, a reinsurance company, went up by 0.47 percent.

On the other hand, Bayer slumped by 5.72 percent. Daimler fell by 1.57 percent. The utilities company RWE dropped by 1.48 percent. Thyssenkrupp slipped by 1.3 percent and BMW lost 1.23 percent.

Bayer was the most traded share of the day with a turnover of 826.83 million euros (around 927.71 million U.S. dollars). Endit