BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks tumbled on Tuesday as weak consumer confidence data as well as disappointing earnings updates from Bayer and Lufthansa soured sentiment.
The benchmark DAX was down 125 points or 1 percent at 12,292 after finishing marginally lower the previous day.
Bayer shares fell 3.6 percent. The pharmaceutical giant has warned that its full-year earnings target had become harder to reach and that thousands more plaintiffs are filing lawsuits related to its Roundup weedkiller.
Lufthansa plunged 5.4 percent after the airline posted a decline in second-quarter earnings and warned that business trends could deteriorate further in the second half.
HeidelbergCement fell nearly 2 percent after its first-half profit was impaired by non-recurring effect.
Shares of RWE AG advanced 1.5 percent. The utility firm has raised its forecast for fiscal 2019 adjusted earnings.
Fresenius Medical Care AG & Co. KGaA slumped 6.7 percent after its second-quarter net income decreased 74 percent to 254 million euros from 994 million euros last year.
Dialog Semiconductor gained 1 percent after it gave an upbeat forecast for revenues and profit.
In economic releases, Germany's consumer confidence is set to fall in August on fears of a recession, survey data from the market research group GfK showed.
The forward-looking consumer sentiment index came in at 9.7 in August versus 9.8 in July. This was the third decline in succession and the lowest since April 2017.
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