The DAX benchmark of the Frankfurt bourse moved higher on Tuesday amidst upbeat earnings updates that added to the positive sentiment generated by strong growth numbers from China. Markets meanwhile shrugged off the drop in the ZEW Economic Sentiment Index in the Euro area as well as Germany in the month of April.
The forty-scrip DAX index is currently trading at 15,865.75, up 0.48 percent on an overnight basis. The day’s trading has been within the range of 15,800.05 and 15,875.75.
Only 11 scrips in the 40-scrip index are trading in overnight negative territory.
MTU Aero Engines, Deutsche Bank, Commerzbank and Covestro have rallied more than 2 percent. Infineon Technologies, Mercedes Benz Group and BMW have all gained more than 1 percent.
RWE, Henkel and Airbus have dropped more than half a percent.
The EUR/USD pair has gained 0.45 percent to trade at 1.0975, amidst the Dollar’s weakness which saw the Dollar Index drop 0.39 percent to 101.70.
The ten-year bond yield has increased 0.30 percent to 2.4875%, versus 2.48% at the previous close.
Business News
DAX Rallies Amidst Strong Earnings, Growth
2023-04-18 10:28:39
