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Trading news
24 Apr 2015
DAX rebounds on IFO
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened with moderate gains and subsequently jumped over 1%, after Germany's Ifo index for April boosted investors’ sentiments, while Greece was closely watched by markets.
Currently, the DAX 30 trades higher by 1% at 11842 levels, retreating from 11882.50 session highs. The DAX posed a solid come back after yesterdays slide after German business conditions improved lifting European stocks while expectations of a deal being reached at the Euro group meeting kept the gains intact.
The index is seen trading with a positive market breadth, the advance-decline ratio being 24:8. Deutsche Telekom is the top gainer up 2.28%. On the losing end, RWE AG is down -4.92%. While, Muenchener Rueckversicherungs-Gesellschaft AG is seen in red, -down nearly -4.19%, extending losses for the fourth straight session.
DAX Technical Levels
The index has an immediate resistance at 12k. Meanwhile, support is seen at 11600 levels and 11480 levels.
Currently, the DAX 30 trades higher by 1% at 11842 levels, retreating from 11882.50 session highs. The DAX posed a solid come back after yesterdays slide after German business conditions improved lifting European stocks while expectations of a deal being reached at the Euro group meeting kept the gains intact.
The index is seen trading with a positive market breadth, the advance-decline ratio being 24:8. Deutsche Telekom is the top gainer up 2.28%. On the losing end, RWE AG is down -4.92%. While, Muenchener Rueckversicherungs-Gesellschaft AG is seen in red, -down nearly -4.19%, extending losses for the fourth straight session.
DAX Technical Levels
The index has an immediate resistance at 12k. Meanwhile, support is seen at 11600 levels and 11480 levels.