DAX Rises As Rate Cut Hopes Strengthen
(RTTNews) - Germany's DAX benchmark gained further amidst dovish comments by an ECB official. Sentiment was also boosted by the Ifo Business Climate indicator for Germany surging to 87.8 in March, versus 85.7 in February and surpassing market expectations of 86.00. The forty-scrip DAX index is currently trading at 18,204.68, having gained 0.22 percent from the previous close of 18,164.66. The day's trading ranged between a high of 18,146.03 and a low of 18,207.25.
In the 40-scrip index, only less than half of the scrips have declined from the levels on Thursday.
Siemens Energy rallied 3.1 percent. Sartorius, Deutsche Post, Vonovia and Zalando, all rallied more than 2 percent.
Infineon Technologies declined 1.4 percent followed by BMW that slipped more than a percent. Continental, Munchener Ruck, Siemens, SAP and adidas have also lost more than half a percent.
Amidst the Dollar's rebound, that lifted the Dollar Index up 0.94 percent to 104.39, the EUR/USD pair slipped 0.41 percent. The euro is currently trading at $1.0816 after ranging between $1.0869 and $1.0808.
In tandem with global easing in bond yields, German bond yields decreased 1.34 percent. The same is at 2.3650 percent versus 2.397 percent at the previous close. Yields ranged between 1.885 percent and 2.5115 percent in the day's trading.
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