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10 Apr 2015
DAX at record highs above 12300
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened higher with a positive gap of 65 points and rallied to all-time highs, moving in tandem with its European counterparts largely on broader euro weakness which helps the exports stocks on the index.
Currently, the DAX 30 trades higher by nearly 1% at 12290.30 levels, retreating from highest levels since 2008 financial crisis at 12310.50. The DAX holds gains following February's industrial output data from France, Spain and Britain, with no major corporate stories for the session. The index is set to close the week in green near record highs.
The index is seen trading with a positive market breadth, the advance-decline ratio being 28:2. Deutsche Boerse AG is the top gainer, up 2.89%, followed by Fresenius SE which is up 2.07%. RWE AG lags the index by -0.34%, followed by Heidelberg Cement which is down -0.29%.
DAX Technical Levels
The index has an immediate resistance at 12350. Meanwhile, support is seen at 12k levels and 11880 levels.
Currently, the DAX 30 trades higher by nearly 1% at 12290.30 levels, retreating from highest levels since 2008 financial crisis at 12310.50. The DAX holds gains following February's industrial output data from France, Spain and Britain, with no major corporate stories for the session. The index is set to close the week in green near record highs.
The index is seen trading with a positive market breadth, the advance-decline ratio being 28:2. Deutsche Boerse AG is the top gainer, up 2.89%, followed by Fresenius SE which is up 2.07%. RWE AG lags the index by -0.34%, followed by Heidelberg Cement which is down -0.29%.
DAX Technical Levels
The index has an immediate resistance at 12350. Meanwhile, support is seen at 12k levels and 11880 levels.