DAX down 1%

The DAX fell nearly 1% on Wednesday and traded near the 18375 level.

Deutsche Bank recorded provisions for lawsuits surrounding the post-bank division and recorded quarterly losses.

Commerzbank (-2.9%) and Daimler Truck Holding (-3%) also fell.

Meanwhile, Rheinmetall's sales and operating results for the second quarter increased drastically, surpassed market expectations, and confirmed guidance for 2024, making it the biggest increase rate (2.3%).

On the data side, Germany's flash PMI betrayed expectations, and the private sector unexpectedly began to shrink due to the worsening decline in the manufacturing industry and a slowdown in the service industry.