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War Fears Drag Down DAX
(RTTNews) - Amidst the escalation in tensions between Israel and Iran that dampened sentiment in global markets, Germany's DAX index slipped more than a percent on Tuesday.
The index that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange is currently trading 1.39 percent lower at 23,362.26, versus the previous close of 23,691.69. The day's trading ranged between a high of 23,312.42 and a low of 23,506.24.
In the 40-scrip index, only 5 scrips are trading in the overnight green zone.
Brenntag topped with overnight gains of 0.61 percent. Porsche and Symrise, both gained more than 0.30 percent.
Fresenius Medical Care topped losses with a decline of 4.7 percent. Commerzbank, Rheinmetall, Deutsche Telekom, Bayer, Deutsche Bank and Fresenius have all declined more than 2 percent.
With the six-currency Dollar Index trading close to the flatline at 98.19, the EUR/USD pair has edged up 0.01 percent. It is currently at 1.1561 after ranging between 1.1572 and 1.1543. The EUR/GBP pair has added 0.23 percent to 0.8532. The EUR/JPY pair has edged up 0.06 percent to 167.45.
Amidst a hardening in bond yields in Europe, ten-year German bond yields have increased 0.55 percent overnight to 2.5440 percent. The yield which was at 2.5300 percent at the previous close ranged between 2.5580 percent and 2.5250 percent in the day's trading.
Meanwhile, data released just a while ago showed the ZEW Indicator of Economic Sentiment for Germany surging to 47.5 in June, far exceeding market expectations of 35.
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