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6 May 2015
DAX lifted on EZ PMIs
FXStreet (Mumbai) - Germany’s benchmark index, the DAX firmed today tracking gains from its European counterparts amid soft corporate earnings results and on mixed Eurozone services PMI reports. However, the gains remain capped as Greece debt issues resurfaced despite the debt-ridden country paid another €200 million to the International Monetary Fund today.
Currently, the DAX 30 trades higher by 0.72% at 11420.30 levels, heading towards 11454.50 session highs. The DAX remained elevated following April's services PMIs with EMU services sector expanded at a solid, while traders reacted to a slew of earnings reports as well.
The index is seen trading with a positive market breadth, the advance-decline ratio being 24:6. Muenchener Rueckversicherungs is the top gainer up 1.01%, followed by BMW gaining 0.41%. Deutsche Telekom AG is the top loser so far, down -0.40% on the day.
DAX Technical Levels
The index has an immediate resistance at 11600. Meanwhile, support is seen at 11260 levels and 11100 levels.
Currently, the DAX 30 trades higher by 0.72% at 11420.30 levels, heading towards 11454.50 session highs. The DAX remained elevated following April's services PMIs with EMU services sector expanded at a solid, while traders reacted to a slew of earnings reports as well.
The index is seen trading with a positive market breadth, the advance-decline ratio being 24:6. Muenchener Rueckversicherungs is the top gainer up 1.01%, followed by BMW gaining 0.41%. Deutsche Telekom AG is the top loser so far, down -0.40% on the day.
DAX Technical Levels
The index has an immediate resistance at 11600. Meanwhile, support is seen at 11260 levels and 11100 levels.