13 Feb 2015
DAX at record highs, hits 11k mark
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened higher and rallied to fresh all-time highs, breaking above the 11000 mark, as upbeat Germany’s Q4 GDP numbers lifted market sentiments.
Currently, the DAX 30 traded higher by 0.58% at 10,983.50 levels, having previously posted record highs at 11009.50 levels. The DAX jumped to record highs after German Q4 2014 GDP data showed that the Euro zone’s economic powerhouse had expanded considerably accelerate in the last quarter of 2014, which boosted the stocks. Meanwhile, traders now await growth numbers for the whole euro zone.
The index is seen trading with a positive market breadth with an advance decline ratio of 22:8. Among major gainers, Deutsche Bank AG is the top gainer, up 0.96%, followed by K+S AG up nearly 0.90% on the day. On the losing end, Fresenius SE and Fresenius Medical are down -0.80% to -1.22%.
DAX Technical Levels
The index has an immediate resistance at 11009. Meanwhile, support is seen at 10950 levels and 10820 levels.
Currently, the DAX 30 traded higher by 0.58% at 10,983.50 levels, having previously posted record highs at 11009.50 levels. The DAX jumped to record highs after German Q4 2014 GDP data showed that the Euro zone’s economic powerhouse had expanded considerably accelerate in the last quarter of 2014, which boosted the stocks. Meanwhile, traders now await growth numbers for the whole euro zone.
The index is seen trading with a positive market breadth with an advance decline ratio of 22:8. Among major gainers, Deutsche Bank AG is the top gainer, up 0.96%, followed by K+S AG up nearly 0.90% on the day. On the losing end, Fresenius SE and Fresenius Medical are down -0.80% to -1.22%.
DAX Technical Levels
The index has an immediate resistance at 11009. Meanwhile, support is seen at 10950 levels and 10820 levels.