DAX Inches Lower As Apple Warns On Revenue Guidance

German stocks declined on Tuesday after Apple Inc became the latest company to warn of trouble from the coronavirus outbreak, saying it would not meet its guidance for March-quarter revenue because of slower iPhone production.

The benchmark DAX fell 86 points, or 0.63 percent, to 13,696 after rising 0.3 percent the previous day.

Technology companies were moving lower, with Infineon Technologies losing 2.6 percent and Dialog Semiconductor falling nearly 5 percent.

Deutsche Börse Group shed 0.7 percent after reporting its fourth-quarter results.

Telefonica Deutschland Holding edged down slightly. The company announced that Peter Löscher will succeed Laura Abasolo García de Baquedano as member of the Supervisory Board with effect as of April 1, 2020.

HeidelbergCement declined 1.7 percent. The company reported that its fourth-quarter result from current operations grew 3 percent to 603 million euros from last year's 584 million euros.



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