DAX Tumbles 1.3% on Weak German Services PMI Data

Macro
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Summary · why it matters

Germany's DAX index fell sharply on Tuesday, dropping 325.59 points or 1.3% to 24,814.10, as weak services PMI data and geopolitical uncertainty weighed on sentiment. The S&P Global Flash Germany Composite PMI fell to 48 in June 2026 from 48.8 in May, missing expectations of 49.9 and signaling a third straight month of contraction. Services PMI hit a 43-month low of 46.8, while manufacturing output expanded slightly with a PMI of 50.8. Siemens Energy led declines with a 5.5% drop, followed by Hochtief down 5.2% and Infineon Technologies off about 5.1%, while SAP bucked the trend with a 1.8% gain.

Impact on stocks 4

Energy Transition & Power Demand▼ · 1 stocks
Siemens Energy AG
ENR
▼ NegativeDemandrelevance

Weak services PMI signals economic contraction, reducing demand for Siemens Energy's products and services.

Industrials▼ · 1 stocks
HOCHTIEF Aktiengesellschaft
HOT
▼ NegativeDemandrelevance

Weak services PMI indicates economic slowdown, lowering demand for construction and infrastructure services.

Electrification & Mobility▼ · 1 stocks
Infineon Technologies AG
IFX
▼ NegativeDemandrelevance

Weak services PMI suggests economic weakness, reducing demand for Infineon's semiconductor products.

Cloud & Digital Infrastructure▲ · 1 stocks
SAP SE
SAP
▲ PositiveDemandrelevance

SAP bucked the trend with a 1.8% gain, likely due to resilient demand for its software services despite weak PMI.

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