The DAX benchmark of the Frankfurt bourse attempted a rebound on Thursday amidst fresh earnings updates. Markets also took cognizance of the fall in producer price inflation to the lowest level since December 2020.
Annual producer inflation in Germany slowed to 0.1 percent in the month of June, compared to 1 percent in May. Markets were expecting a flat reading.
The forty-scrip DAX index is currently trading at 16,159.25, having gained 50 points or 0.31 percent on an overnight basis. The day’s trading has been within the range of 16,047.55 and 16,176.75.
Only 12 of the 40 scrips in the index are currently trading in the overnight negative territory.
Healthcare business Fresenius surged 5.75 percent. Vonovia, BASF, Brenntag, Heidelberg Materials and Deutsche Post have all gained more than 1 percent.
SAP has declined more than 1 percent.
The EUR/USD pair increased 0.12 percent higher to 1.1211. The pair ranged between 1.1229 and 1.1197.
In tandem with the global rise in yields following Russia’s exit from the Black Sea grain deal, the ten-year German bond yield has increased 0.48 percent to 2.4085%, versus 2.397% at the previous close.
DAX Attempts A Rebound
2023-07-20 10:58:33
