DAX Drops As Excitement Over Earnings, Potential Rate Cuts Fade
(RTTNews) - Amidst thin trading, Germany's DAX benchmark dropped from the record high recorded on Friday. Anxiety ahead of the release of the ECB /FOMC Minutes as well as the flash PMI readings for February lingered.
The forty-scrip DAX index is currently trading at 17,061.64, having slipped 0.12 percent from the previous close of 17,082.37. The day's trading ranged between a high of 17,098.97 and a low of 17,056.65.
In the 40-scrip index, only 10 are currently trading in the overnight positive zone. Shares of artillery producer Rheinmetall gained close to 3 percent amidst announcements of opening an ammunition factory in Ukraine.
Sartorius, Covestro, Commerzbank and Continental, all slipped more than 2 percent.
MTU Aero Engines, BASF, RWE, Porsche, Airbus, Zalando, Porsche Automobil Holding and Merck have all lost more than 1 percent.
The EUR/USD pair is flat at 1.0775 percent. The Dollar Index meanwhile slipped 0.05 percent to trade at 104.25.
German bond yields decreased 0.10 percent. The same is at 2.3975 percent versus 2.4000 percent at the previous close.
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