The DAX benchmark of the Frankfurt bourse recorded only mild gains amidst anxiety ahead of the release of crucial PCE inflation readings from the U.S. as well as the euro regions. Inflation readings from Germany are due on Wednesday. Markets also keenly await comments by Christine Lagarde and Philip R. Lane of the European Central Bank who are scheduled to speak later in the day.
Data released earlier in the day showed the GfK Consumer Climate Indicator edging up to -27.8, from a downwardly revised -28.3 in the prior month. Markets were expecting a reading of -27.9.
The forty-scrip DAX index is currently trading at 15,958.27, having edged up 0.04 percent on an overnight basis. The day’s trading ranged between a high of 15,963.60 and a low of 15,917.17. The index had closed at 15,952.35 on the previous day.
In the 40-scrip index, only 13 are currently trading in the overnight positive territory.
RWE tops with gains of 2.8 percent. Infineon Technologies follows with gains of a little over 1 percent. Airbus, Rheinmetall, Fresenius and Commerzbank have all gained more than half percent.
Siemens Energy topped losses with a decline of 2.7 percent. Bayer slipped 1.9 percent. Vonovia, BASF and Volkswagen have all declined more than 1 percent.
The EUR/USD pair has slipped 0.04 percent to 1.0949 amidst the Dollar Index edging up 0.01 percent to 103.21. The euro ranged between $1.0934 and $1.0963.
Tracking the rise in U.S. bond yields, German Bond yields have also hardened. The ten-year German bond yields increased 0.06 percent to 2.5545%, versus 2.553% at the previous close.
DAX Close To The Flatline Ahead Of Inflation Updates
2023-11-28 11:27:39
