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DAX Rally Continues Third Consecutive Session

The German benchmark DAX continued to rise three times in a row as investors remained optimistic despite the Fed’s tapering plan and lower regional PMIs. Evergande’s blunder, BOE policy review, and the European energy crisis remained in the minds of investors, but were not strong enough to resist bailout rallies.

The 40 Script Index is currently trading at 15626.89, up 0.69% from the previous closing price. Trading on that day was in the range of 15567.94-15693.70.

At current levels, DAX is 2.51 percent below its 52-week high of 16028.60.

Meanwhile, the September IHS Markit Germany flash PMI release saw manufacturing PMI drop from 62.6 to 58.5 last month, service PMI down from 60.8 to 56 in August, and compound PMI down from 60.0 to 55.3 in August. I showed that I did.

The Eurozone IHS Markit flash PMI release in September showed a similar trend, with manufacturing PMI down from 61.4 to 58.7 last month, service PMI down from 59 to 56.3 in August, and compound PMI down to 59.0 in August. Dropped from 56.1.

Automotive parts and equipment manufacturer Continental is the lead performer, gaining 3.48% and online meal kit provider HelloFresh adding more than 3.0%.

Fresenius fell 0.46%, while Covestro fell 0.36%.

Automaker Daimler surpasses the volume chart with sales of € 600,000. Scrip increased by 1.64%.

5 scripts in the 40 script index are down from the previous day’s level.

In the DAX Super Sector Index, utilities are the top performers after rising 2.49% from the previous day, followed by information technology with a 1.73% rise. All supersector indexes are up from the previous day’s level.

The EURUSD pair increased from 1.1686 to 1.1713 the day before as global risk on sentiment moved investors away from the greenback of safe havens. The dollar index fell from Wednesday’s closing price of 93.46 to 93.19.

The world’s largest 10-year foreign bond yield increased from -0.3270% the day before to -0.3025% Economy Following Wednesday’s official announcement by the Federal Reserve Board, the mood of gradual stimulus and higher interest rates gradually progressed.

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DAX Rally Continues Third Consecutive Session

Source link DAX Rally Continues Third Consecutive Session

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