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Colin First
DAX Monday
DAX Monday

Germany equities were mixed at the close on Friday, as gains in the Software, Retail and Technology sectors propelled shares higher while losses in the Construction, Telecoms and Pharmaceuticals & Healthcare sectors led shares lower. At the close in Frankfurt, the DAX declined 0.13% to hit a new 52-week low, while the MDAX index gained 0.35%, and the TecDAX index added 1.47%. Advancing stocks outnumbered falling ones by 386 to 326 and 65 ended unchanged on the Frankfurt Stock Exchange. The DAX volatility index, which measures the implied volatility of DAX options, was up 11.05% to 20.80 a new 6-month high.

Geo-Political Events Helped DAX Gain Upper Hand Today

Asian shares slipped on Monday as worries over Sino-U.S. trade disputes indicated at a possible slowdown in the Chinese economy while higher U.S. borrowing costs tempered optimism despite a rebound in global equities late last week. The market shakeout has been blamed on a series of factors, including worries about the impact of a U.S.-China trade war, a spike in U.S. bond yields and caution ahead of the earnings season. Although selling appeared to have abated on Friday, partly after Chinese trade data showed strong growth in September many investors still remain cautious. Meanwhile European index STOXX 600 hit a 22 month low while other major indices suffered some bearish blow as well owing to bounce back in oil prices and rising tensions between Western powers and Saudi Arabia.

While the outlook for EURO remains dovish in long term outlook, geo-political events and a humbling regional election result for Chancellor Angela Merkel’s failed to dampen the common currency during European market hours as Germany’s government bonds rallied and the common currency temporarily breached 1.16 handle giving positive influence to German equity market in late European market hours. This along with fact that DAX futures in international market are also trading positive indicating hawkish investor sentiment in near future market situations resulted in DAX index taking a positive turn and the index is currently at 11607.72 up by 0.73% on the day.

 

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