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DAX Burdened By Hawkish Central Bank Actions
(RTTNews) - The German stock market benchmark DAX extended losses, dropping close to a percent, amidst lingering pain over central banks world-wide hiking interest rates and also hinting at still more increases.
Meanwhile, data from Eurozone's PMI readings for December showed Services sector rising to 49.1 from 48.5 and Manufacturing sector increasing to 47.8 from 47.1.
Readings from the homeland showed Manufacturing PMI rising to 47.4 from 46.2 earlier and Services PMI increasing to 49 from 46.1 in November.
The forty-scrip DAX index is currently trading at 13,868.65, down 0.84 percent on an overnight basis. The day's trading has been within the range of 13,842.83 and 14,011.25.
Only 6 scrips in the 40-scrip index are trading in overnight positive territory. Deutsche Bank and MTU Aero Engines have both gained more than 1 percent.
Sartorius topped with losses of 4.7 percent. Vonovia also lost more than 4 percent. Bayer, Brenntag, Infineon Technologies and Merck have all lost more than 2 percent.
The EUR/USD pair is at 1.0625, a tad lower than the previous close of 1.0626. The Dollar gained, lifting the Dollar Index by 0.06 percent to 104.62.
The ten-year bond yield has increased 5.52 percent to 2.1980%, versus 2.0830% at the previous close.
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