DAX Rises Amidst Easing Inflation
(RTTNews) - The DAX benchmark of the Frankfurt bourse gained on Wednesday as markets took cognizance of the easing in inflation in the euro area as well as the U.K. Dovish hints from an ECB official a day earlier also supported sentiment. Caution ahead of interest rate decisions by the Federal Reserve and ECB due next week, limited gains.
Data released earlier confirmed the inflation readings for June from Euro Area at 5.5 percent versus 6.1 percent in the previous month. Inflation in the U.K. too dropped more than expected to 7.9 percent.
The forty-scrip DAX index is currently trading at 16,168.45, having gained 43 points or 0.27 percent on an overnight basis. The day's trading has been within the range of 16,121.45 and 16,240.95.
Only 14 of the 40 scrips in the index are currently trading in the overnight negative territory.
Real estate business Vonovia surged 6.5 percent. Zalando has gained 2.2 percent. Sartorius, Symrise and Siemens Healthineers have all gained more than 1 percent.
Daimler Truck Holding has declined 2.8 percent. Covestro dropped 1.6 percent.
The EUR/USD pair increased 0.10 percent higher to 1.1237. The pair ranged between 1.1240 and 1.1196.
The ten-year bond yield has plunged 1.9 percent to 2.3040%, versus 2.348% at the previous close.
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