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DAX Rises As Rate Cut Hopes Strengthen
(RTTNews) - DAX resumed trading on a positive note after a holiday break. Better-than-expected PCE-based inflation readings from the U.S that bolstered rate cut hopes lifted sentiment at the Frankfurt bourse.
The forty-scrip DAX index is currently trading at 16,747.05, having added 0.24 percent on an overnight basis. The day's trading ranged between a high of 16,771.91 and a low of 16,694.44. The index had closed at 16,706.60 on the previous day.
In the 40-scrip index, 19 are currently trading in the overnight negative zone.
Siemens Energy tops with gains of more than 5 percent. Bayer rallied 2.5 percent. Infineon Technologies, Rheinmetall and adidas, all gained more than 1 percent.
Deutsche Telekom and E.ON have declined 0.9 percent. Fresenius, Volkswagen and Munchener Ruck, also declined more than half a percent. The EUR/USD pair has added 0.13 percent to 1.1056, touching a 5-month high. The Dollar Index meanwhile slipped 0.04 percent to trade at 101.42.
In sync with the global easing in bond yields, German bond yields decreased 1.83 percent. The same is at 1.9320 percent versus 1.9680 percent at the previous close, marking its lowest level since December 2022.
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