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Colin First
DAX Friday
DAX Friday

Germany equities were mixed at the close on Thursday, as gains in the Construction, Technology and Basic Resources sectors propelled shares higher while losses in the Food & Beverages, Software and Retail sectors led shares lower. At the close in Frankfurt, the DAX gained 0.88%, while the MDAX index gained 0.29%, and the TecDAX index lost 1.47%. Advancing stocks outnumbered falling ones by 402 to 297 and 82 ended unchanged on the Frankfurt Stock Exchange. The DAX volatility index, which measures the implied volatility of DAX options, was down 2.66% to 13.91 a new 1-month low. European markets yesterday closed on positive note owing to subdued demand for US Greenback and other safe haven assets which indicate risk appetite is currently very high among investors across the globe.

Market Cues from International Allied Markets Remain Positive Adding Bullish Influence to German Equities

Asian stocks extended gains on Friday after Wall Street’s S&P 500 set a new all-time high, while the dollar slipped on views that Beijing’s and Washington’s fresh exchange of tariffs may be less damaging than initially feared. The latest rally comes after new U.S. and Chinese tariffs on each other’s goods were set at lower rates this week than previously expected, raising hopes that hostilities between the world’s two largest economies may be easing. Despite growing anecdotal reports from companies on both sides of the Pacific that the trade war is starting to impact their operations, the outlook for corporate profits remained solid in many markets on the back of strong global growth, keeping equity valuations relatively attractive. Chinese shares, which had been hit the hardest by the trade war, have bounced this week. The CSI 300 index of Shanghai and Shenzen shares, which hit a two-year low last week, rose 0.6% in early Friday week for a weekly gain of 2.7%.

Similar to Chinese markets, other major Asian indices such as Japan’s NIKKEI, Singapore’s FTSE STI, Hong Kong’s HANG SENG & India’s NIFTY 50 were all trading positive in Asian market hours indicating positive investor sentiment in equity markets. Euro the common currency used across key European markets breached new resistance levels and was trading positive in Asian market hours which also adds positive influence to investor sentiment. DAX Futures trading in international market ahead of European market hours was up by 0.57% indicating positive signs for German equities. DAX Index is expected to open positive today and close for the week on positive note as risk sentiment remains in favor of bullish equity performance on last trading session of the week.

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