Stock market: Dax rally loses momentum, Scout24 shares under pressure, Ströer and Stabilus in the red

Ströer shares suffered from the advertising marketer's lowered outlook and fell to their lowest level in almost three years. They were recently down 3.1 percent.

The automotive supplier Stabilus is cutting costs and eliminating 450 jobs . The cost-cutting program is intended to secure the company's long-term competitiveness. While the restructuring costs are significantly eroding the group's profit this year, Stabilus CEO Michael Büchsner is sticking to his targets for day-to-day business. The news was not well received on the stock market. Shares of the trunk gas spring specialist were the worst performers in the SDAX index, falling 5.4 percent.