Back
4 May 2015
DAX gains nearly 1% on German PMI
FXStreet (Mumbai) - Germany’s benchmark index, the DAX re-opened today on a firmer note after an extended Labour Day holiday, as traders cheered upbeat German final PMI readings which came in a touch better than market expectations, lifting investors’ sentiment.
Currently, the DAX 30 trades higher by 0.87% at 11556.30 levels, retreating from 11572 session highs. The DAX kicked-off the week on a bullish tone as upbeat German PMI provide impetus to the German stocks while markets ignored French and EMU PMIs. Moreover, broad euro weakness also added to the gains in the index, lending a helping hand to the exports stocks.
The index is seen trading with a positive market breadth, the advance-decline ratio being 28:2. Fresenius SE is the top gainer up 2.18%, followed by Allianz SE gaining 2.04%.
DAX Technical Levels
The index has an immediate resistance at 11600. Meanwhile, support is seen at 11400 levels and 11260k levels.
Currently, the DAX 30 trades higher by 0.87% at 11556.30 levels, retreating from 11572 session highs. The DAX kicked-off the week on a bullish tone as upbeat German PMI provide impetus to the German stocks while markets ignored French and EMU PMIs. Moreover, broad euro weakness also added to the gains in the index, lending a helping hand to the exports stocks.
The index is seen trading with a positive market breadth, the advance-decline ratio being 28:2. Fresenius SE is the top gainer up 2.18%, followed by Allianz SE gaining 2.04%.
DAX Technical Levels
The index has an immediate resistance at 11600. Meanwhile, support is seen at 11400 levels and 11260k levels.