Dax is remaining resilient near its all-time high, despite data showing April’s retail turnover declining 5.5 percent over previous month, sharper than the 2 percent forecast by analysts. The 30 share index is currently trading at 15590 levels, up by 0.16 percent from its previous close, refusing to retreat from the recent peak as peers like FTSE 100, CAC 40, SMI and Euronext remain comfortably in positive territory.
Trading remained in tight range as momentum was constrained by fears of an impending trade-off between an easy money policy to support pandemic recovery and consequent runaway inflation.
Volkswagen rose 1 percent from yesterday’s levels whereas BMW and Bayer have both risen by more than 2 percent. Deutsche Wohnen SE is witnessing a decline of around 1.8 percent.
Maximum Turnover of 196.10 million euros was recorded in Volkswagen followed by Deutsche Wohnen with volume of 53.01 million euros.
Markets await the Services PMI on Thursday and the Construction PMI on Friday. Recent domestic economic indicators as well as the U.S. monthly jobs report due on Friday are expected to provide fresh set of cues to stock markets at the Frankfurt bourse.
DAX Remains Resilient Near Recent Peak
2021-06-02 11:44:38
