The DAX benchmark of the Frankfurt bourse remained muted at the onset of the new week amidst anxiety ahead of the release of crucial jobs data from the U.S. and inflation readings from China. Anxiety ahead of release of PMI and inflation readings from Germany also added to the weak sentiment.
The forty-scrip DAX index is currently trading at 16,411.02, having edged up 0.03 percent on an overnight basis. The day’s trading ranged between a high of 16,456.64 and a low of 16,385.11. The index had closed at 16,406.34 on the previous day.
In the 40-scrip index, only 15 are currently trading in the overnight negative zone.
Zalando tops with gains of 2.6 percent. Qiagen, Sartorius, Merck, Fresenius, BASF and Rheinmetall have all gained more than 1 percent.
Siemens Healthineers is the greatest laggard with a decline of 1.1 percent. MTU Aero Engines, Porsche, Munchener Ruck, Covestro, Brenntag, and Continental have all declined more than half a percent.
The EUR/USD pair has slipped 0.17 percent to 1.0863 amidst the Dollar Index gaining 0.15 percent to trade at 103.42.
In tandem with the global hardening in bond yields, German bond yields increased 0.23 percent. The same is at 2.3685 percent versus 2.363 percent at the previous close.
Data released earlier in the day had showed exports from Germany unexpectedly falling by 0.2 percent, defying market expectations of a 1.1 percent increase. Imports also declined 1.2 percent as compared with market expectations of a 0.8 percent surge.
Business News
DAX Muted Ahead Of U.S Jobs And China Inflation Readings
2023-12-04 11:15:55
