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2 Mar 2015
DAX hovers near record highs on upbeat Euro zone data
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened modestly flat and later surged to fresh all time highs following optimistic final manufacturing PMI reports and CPI data from the Euro zone.
Currently, the DAX 30 trades higher by 0.35% at 11442 levels, having previously posted record highs at 11452 levels. The DAX remains underpinned as traders continue to cheer better than expected German and rest Euro zone PMI readings, while mixed EMU CPI and jobs data limited the upside in the index.
The index is seen trading with a positive market breadth with an advance decline ratio of 20:10. Among major gainers, BMW is the top gainer, up 1.58%, followed by Continental AG up nearly 1.45%. While, Deutsche Lufthansa is the top loser on the index, down -0.59%.
DAX Technical Levels
The index has an immediate resistance at 11452. Meanwhile, support is seen at 11397 levels and 10301 levels.
Currently, the DAX 30 trades higher by 0.35% at 11442 levels, having previously posted record highs at 11452 levels. The DAX remains underpinned as traders continue to cheer better than expected German and rest Euro zone PMI readings, while mixed EMU CPI and jobs data limited the upside in the index.
The index is seen trading with a positive market breadth with an advance decline ratio of 20:10. Among major gainers, BMW is the top gainer, up 1.58%, followed by Continental AG up nearly 1.45%. While, Deutsche Lufthansa is the top loser on the index, down -0.59%.
DAX Technical Levels
The index has an immediate resistance at 11452. Meanwhile, support is seen at 11397 levels and 10301 levels.