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Germany's benchmark DAX index closes down

Xinhua, December 13, 2016 Adjust font size:

The benchmark DAX index at Frankfurt Stock Exchange on Monday fell 13.42 points, or 0.12 percent, and closed at 11,190.21 points.

U.S. Fed is highly expected to raise interest rates this Wednesday. However, caution over Fed's decision triggered stock market correction, the DAX index opened slightly lower and fluctuated within a narrow range during the day.

"Consolidation at a high level shows that investors are no longer afraid of the interest rate hike expected this week." said analyst Jochen Stanzl from CMC Markets.

German airline Lufthansa lost the most by 1.85 percent on the news that Ryanair will cut air fares further in 2017. Worry about upcoming price war put Lufthansa stock under pressure.

Germany's second largest utilities company RWE gained the most by 3.39 percent.

The analyst of Credit Suisse is optimistic about the future development of electricity price in central Europe, and upgrade the rating from "neutral" to "outperform".

Bayer was the most traded share of the day with a volume of 262.46 million Euros (278.10 million U.S. dollars). Enditem