The benchmark DAX index at Frankfurt Stock Exchange on Thursday went down 106.25 points, or 1.00 percent, and closed at 10,534.05 points.

Oil price keep surging after OPEC reached deal on modest production cuts on Wednesday.

China’s manufacturing PMI hit its highest in more than two years in November, indicating that the world’s largest economy remained stable.

Nevertheless, the German index DAX was still under pressure as investors fear that Italy’s constitutional reform referendum could spark another crisis in euro zone.

German properties group Vonovia dropped the most by 3.27 percent, as U.S. interest rate rise in December is highly expected, which would decrease the attractiveness of real estate investment.

Commerzbank led gains by 2.30 percent, followed by Deutsch Bank and Lufthansa. Lufthansa has made new offer to striking pilots, and both sides may go back to the negotiating table.

Bayer was the most traded stock of the day with a volume of 313.56 euros (333.22 million U.S. dollars). Enditem

Source: Xinhua/

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