The DAX benchmark of the Frankfurt bourse moved higher on Thursday, crossing the 15600 level for the first time since Feb 2022 amidst strong corporate earnings that eclipsed fears of Fed’s hawkish moves. Markets shrugged off recent data from the U.S. that showed retail sales rising more than expected, providing the Fed with more headroom to increase rates.
CommerzBank jumped more than 7 percent after its results announcement.
The forty-scrip DAX index is currently trading at 15,581.65, up 0.49 percent on an overnight basis. The day’s trading has been within the range of 15,554.15 and 15,633.65.
Only 15 scrips in the 40-scrip index are trading in overnight negative territory.
Deutsche Bank, Airbus, adidas and Continental gained more than 2 percent.
Siemens Healthineers declined more than 1 percent.
The EUR/USD pair gained 0.17 percent to trade at 1.0707.
The ten-year bond yield has decreased 0.36 percent to 2.4650%, versus 2.4740 at the previous close.
Market Analysis
DAX Rises On Earnings Boost
2023-02-16 10:23:17
