Cautious Optimism Lifts DAX
(RTTNews) - The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange is trading in the green zone on Monday amidst a mood of cautious optimism. Expectations of a trade tariff settlement between the E.U. and the U.S. boosted sentiment.
The index is currently trading 0.68 percent higher at 23,948.75, versus the previous close of 23,787.45. The day's trading ranged between a high of 23,951.50 and a low of 23,836.58.
In the 40-scrip index, only 19 scrips are trading in the overnight green zone. Munchener Ruck topped gains with a surge of 1.65 percent followed by Commerzbank that added 1.6 percent.
Merck topped losses with a decline of 2.1 percent. Sartorius and Porsche, both followed with losses of more than 1 percent.
Amidst fresh trade tariff warnings issued by President Trump, the Dollar rebounded on Monday, lifting the six-currency Dollar Index 0.19 percent higher to 97.36. The EUR/USD pair is currently trading 0.42 percent lower at 1.1730 after ranging between 1.1791 and 1.1723. The EUR/GBP pair has edged down 0.05 percent to 0.8623. The EUR/JPY pair has increased 0.19 percent to 170.61.
Ten-year bond yields hardened 0.74 percent overnight to 2.5850 percent. The yield which was at 2.566 percent at the previous close ranged between 2.552 percent and 2.59 percent in the day's trading. Concerns about the trade tariff environment as well as ECB's monetary policy outlook swayed sentiment.
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