DAX 30 Slides On Virus Fears

German stocks declined on Monday as coronavirus worries persisted and Irish nationalists Sinn Fein secured almost a quarter of first-preference in a general election.

The Wuhan coronavirus has killed 910 people globally and infected more than 40,000 people, raising concerns about growth in the world's second-largest economy.

With the virus outbreak showing no signs of slowing, the head of the World Health Organization has warned about the potential for more cases beyond China.

The benchmark DAX dropped 56 points, or 0.41 percent, to 13,457 after losing half a percent on Friday. Better-than-expected inflation data from China helped to limit the downside to some extent.

Carl Zeiss Meditec AG, a manufacturer of optical systems, rallied 3.5 percent after reporting a rise in Q1 earnings and confirming FY20 outlook.

Daimler gained 0.6 percent. German newspaper Handelsblatt reported that the luxury carmaker plans to cut up to 15,000 jobs to reduce costs.



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