DAX Drops As Monetary Policy Concerns Weigh
(RTTNews) - The DAX benchmark of the Frankfurt bourse drifted lower as caution ahead of the series of monetary policy reviews lined up over the next few days weighed on sentiment. Data from China that implied deflationary tendencies and questioned the quality of the post-pandemic rebound in that country also dampened sentiment.
The forty-scrip DAX index is currently trading at 15,939.55, having shed 50 points or 0.32 percent on an overnight basis. The day's trading has been within the range of 15,921.05 and 16,001.55.
More than half of the scrips in the 40-scrip index are trading in the overnight negative territory.
Rheinmetall topped with gains of 2.3 percent. Vonovia followed with a 2.1 percent uptick. MTU Aero Engines, RWE, E.ON and Siemens Energy, all gained more than 1 percent.
Symrise plunged 4.3 percent in the day's trading. Brenntag declined 3.2 percent. BASF, Henkel, Munchener Ruck, Bayer, Zalando and Deutsche Post, all erased more than 1 percent.
Weak economic data from China triggered safe haven demand for the Dollar, lifting the Dollar Index, a measure of the Dollar's strength against a basket of 6 currencies around 0.18 percent to 103.53. The Dollar's rise dragged the EUR/USD pair 0.21 percent to 1.0762. The pair ranged between 1.0756 and 1.0787.
The ten-year bond yield has edged down 0.70 percent to 2.4050%, versus 2.422% at the previous close.
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