2 Feb 2015
DAX holds mild gains as Greek uncertainties weigh
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened slightly higher, however quickly gave away partial gains and steadied as traders digested mixed PMI readings from the Euro zone economies as well as the bloc’s PMI.
Currently, the DAX 30 traded at 10721.50 levels, up 0.23%, retreating from day’s high posted at 10799 levels. The DAX traded with mild gains in a narrow range with traders in the region focusing on Greece's negotiations with its euro zone partners.
The index is seen trading with a positive market breadth with an advance decline ratio of 24:6. Among major gainers, Muenchener Rueckversicherungs-Gesellschaft AG lead the index gaining 1.72%, followed by Continental AG which rose 1.62% and Heidelberg Cement AG also up 1.58%. On the losing end, Deutsche Lufthansa, Infineon Technologies and Deutsche AG are down -0.94% to -2.20%.
DAX Technical Levels
The index has an immediate resistance at 10810. Meanwhile, support is seen at 10439 levels and 10300 levels.
Currently, the DAX 30 traded at 10721.50 levels, up 0.23%, retreating from day’s high posted at 10799 levels. The DAX traded with mild gains in a narrow range with traders in the region focusing on Greece's negotiations with its euro zone partners.
The index is seen trading with a positive market breadth with an advance decline ratio of 24:6. Among major gainers, Muenchener Rueckversicherungs-Gesellschaft AG lead the index gaining 1.72%, followed by Continental AG which rose 1.62% and Heidelberg Cement AG also up 1.58%. On the losing end, Deutsche Lufthansa, Infineon Technologies and Deutsche AG are down -0.94% to -2.20%.
DAX Technical Levels
The index has an immediate resistance at 10810. Meanwhile, support is seen at 10439 levels and 10300 levels.