The DAX benchmark of the Frankfurt bourse moved higher on Wednesday amidst relief following the more-than-expected dip in inflation in the U.K. Data released earlier showed inflation in the U.K. cooling more than expected to 10.1 percent in January versus 10.5 in December and expectations of 10.3 percent. Earlier, hotter-than-expected inflation readings from the U.S. had dampened sentiment across regions and markets.
The forty-scrip DAX index is currently trading at 15,450.95, up 0.46 percent on an overnight basis. The day’s trading has been within the range of 15,381.95 and 15,466.95.
Only thirteen scrips in the 40-scrip index are trading in overnight negative territory.
MTU Aero Engines gained more than 4 percent. Brenntag added 2.3 percent. Covestro, Airbus, adidas, BMW, Mercedes Benz Group, Deutsche Telekom and BASF have all gained more than 1 percent.
RWE and Fresenius Medical Care, both have declined more than 1 percent.
The EUR/USD pair shed 0.08 percent to trade at 1.0726.
The ten-year bond yield has decreased 1.96 percent to 2.3980%, versus 2.4460% at the previous close.
Market Analysis
DAX Rises Amidst U.K.’s Inflation Surprise
2023-02-15 09:44:40
