30 Apr 2015
DAX hits fresh 8-week lows
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened on a firmer note, although gave back gains and dropped to fresh one-month lows amid a volatile session following a set of downbeat economic reports from the euro zone.
Currently, the DAX 30 trades lower by -0.30% at 11402 levels, retreating from 11491.80 session highs. The DAX erased gains and fell in red as investors reacted to the latest earnings reports while Euro zone economic releases continue to weigh. Also, soaring German bund yields at seven week high dulled appeal of the European equities as alternative higher yielding asset.
The index is seen trading with a negative market breadth, the advance-decline ratio being 8:22. Fresenius SE is the top gainer up 3.29%, followed by Deutsche Boerse AG gaining 1.04%. On the losing end, Infineon Technologies is down -3.22. While, Linde AG is down nearly -1.55%.
DAX Technical Levels
The index has an immediate resistance at 11600. Meanwhile, support is seen at 11300 levels and 11k levels.
Currently, the DAX 30 trades lower by -0.30% at 11402 levels, retreating from 11491.80 session highs. The DAX erased gains and fell in red as investors reacted to the latest earnings reports while Euro zone economic releases continue to weigh. Also, soaring German bund yields at seven week high dulled appeal of the European equities as alternative higher yielding asset.
The index is seen trading with a negative market breadth, the advance-decline ratio being 8:22. Fresenius SE is the top gainer up 3.29%, followed by Deutsche Boerse AG gaining 1.04%. On the losing end, Infineon Technologies is down -3.22. While, Linde AG is down nearly -1.55%.
DAX Technical Levels
The index has an immediate resistance at 11600. Meanwhile, support is seen at 11300 levels and 11k levels.