DAX Drops As Consumer Climate Decline, ECB Outcome Weigh
(RTTNews) - The DAX benchmark of the Frankfurt bourse slipped from the record high recorded on Thursday, amidst an unexpectedly hawkish pause by the ECB and the disappointment triggered by the unexpected decline in the Consumer Climate Indicator.
Data released earlier in the day showed the GfK Consumer Climate Indicator dropping to -29.7 in February, versus a revised -25.4 in the previous month and missing the market consensus of -24.5. The reading is also the lowest in 11 months.
The forty-scrip DAX index is currently trading at 16,855.28, having slipped 0.27 percent from Thursday's close of 16,900.62. The day's trading ranged between a high of 16,873.49 and a low of 16,842.42.
In the 40-scrip index,18 scrips are currently trading in the overnight positive zone. Healthcare business Sartorius jumped 8.8 percent, followed by Merck that rallied 6.4 percent. Siemens Healthineers, Brenntag, Qiagen and Porsche, all gained more than 1 percent.
Bayer tops losses with a decline of close to 2.5 percent. Deutsche Telekom, Vonovia, Rheinmetall, Infineon Technologies, Siemens Energy, Zalando and SAP, all slipped more than a percent. The EUR/USD pair has slipped 0.16 percent to 1.0829. The Dollar Index meanwhile edged up 0.04 percent to trade at 103.61.
Tracking the global decline in bond yields, German bond yields decreased 1.16 percent overnight. The same is at 2.2565 percent versus 2.2830 percent at the previous close.
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