The DAX benchmark of the Frankfurt bourse moved lower amidst weak economic data that added to the concerns about growth in the region. Data released earlier in the day showed Germany’s Factory Orders plunging 11.7 percent in July, versus an upwardly revised 7.6 percent increase in the previous month. Markets had anticipated a decline of 4 percent only.
The forty-scrip DAX index is currently trading at 15,718.15, having lost 54 points or 0.34 percent on an overnight basis. The day’s trading has been within the range of 15,675.55 and 15,747.55.
In the 40-scrip index, only 15 are currently trading in the overnight positive territory.
Vonovia and Siemens Energy have both rallied more than 1 percent.
Merck, Deutsche Bank, Commerz Bank, Zalando, Sartorius, Fresenius, Qiagen and Munchener Ruck have all declined more than 1 percent.
Amidst the Dollar’s weakness, resulting in the Dollar Index shedding 0.10 percent, the EUR/USD pair increased 0.16 percent to 1.0737. The pair ranged between 1.0713 and 1.0747.
In tandem with the easing in bond yields across regions, the ten-year German bond yield decreased 0.06 percent to 2.6065%, versus 2.608% at the previous close.
Market Analysis
DAX Slips As Factory Orders Tumble
2023-09-06 10:49:37
