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German stocks fell sharply on Thursday after the minutes from the Fed’s June meeting showed the central bank generally expects elevated inflation for the remainder of this year. <\/p>\n
The minutes reflected a divided Fed wrestling with new inflation risks but still relatively high unemployment.<\/p>\n
The benchmark DAX tumbled 192 points, or 1.2 percent, to 15,500 after climbing 1.2 percent the previous day. <\/p>\n
Banks retreated as government bond yields extended their decline. Commerzbank lost 2.6 percent and Deutsche Bank gave up 2.7 percent. <\/p>\n
Cyclical stocks such as automakers were also moving lower on economic recovery concerns. BMW, Daimler and Volkswagen fell 1-2 percent. <\/p>\n
Automotive lighting group Hella declined 2 percent after Knorr-Bremse, a maker of breaking systems used in trains and commercial vehicles, dropped plans to acquire a 60 percent in the company held by the founding family. <\/p>\n
Remote connectivity software specialist Teamviewer plunged 13 percent after announcing a weaker second-quarter billings growth forecast. <\/p>\n
Sugar producer Suedzucker plummeted 4 percent after reporting a fall in Q1 operating profit. <\/p>\n
In economic news, German exports expanded at a marginal pace in May, data from Destatis revealed. Exports grew only 0.3 percent month-on-month in May, following a 0.2 percent rise in April. <\/p>\n
At the same time, imports advanced 3.4 percent, reversing a 1.4 percent drop in the previous month. <\/p>\n<\/p>\n<\/div>\n