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15 May 2015
DAX rises on falling bond yields
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened with a positive gap of 30 points and extended gains, with investors cheering news that the situation on the bond market has stabilized for now, but missing any major market driver since the session will be quiet in terms of economic and corporate news.
Currently, the DAX 30 trades 0.61% higher at fresh session 11611.30 levels, having posted day’s high at 11633.30 and day’s low at 11565.80. The DAX edged higher a falling bond yields across the Euro zone boosted European stocks, while weaker euro also pushed exports stocks higher. However, the index is set to close the week on bearish note on the strong euro and Greek jitters.
The index is seen trading with a positive market breadth, the advance-decline ratio being 26:4. Bayer AG is the top gainer up 1.48% followed by Fresenius Medical up 1.30%. While K+S AG is the top loser so far, down -0.88% on the day. While ThyssenKrupp slides -0.59%.
DAX Technical Levels
The index has an immediate resistance at 11700. Meanwhile, support is seen at 11500 levels and 11380 levels.
Currently, the DAX 30 trades 0.61% higher at fresh session 11611.30 levels, having posted day’s high at 11633.30 and day’s low at 11565.80. The DAX edged higher a falling bond yields across the Euro zone boosted European stocks, while weaker euro also pushed exports stocks higher. However, the index is set to close the week on bearish note on the strong euro and Greek jitters.
The index is seen trading with a positive market breadth, the advance-decline ratio being 26:4. Bayer AG is the top gainer up 1.48% followed by Fresenius Medical up 1.30%. While K+S AG is the top loser so far, down -0.88% on the day. While ThyssenKrupp slides -0.59%.
DAX Technical Levels
The index has an immediate resistance at 11700. Meanwhile, support is seen at 11500 levels and 11380 levels.