10 Jul 2015
DAX rallies on Greek Euphoria, banking stocks gain
FXStreet (Mumbai) - Germany’s benchmark index, the DAX jumped to fresh one-week high on Friday and set pose weekly gain as traders across Europe digest the latest Greece news hitting the markets, which raises hopes of Greece solution to be reached sooner.
Currently, the DAX 30 trades 1.76% higher at 11188, retreating from fresh session highs of 11263 levels. German stocks extends its upbeat momentum and tracks its other European counterparts higher the stock market rebound in China also helped raise sentiment among investors in Europe.
The index trades with a clear positive market breadth with all stock on the wining end Deutsche Bank AG is the top gainer, up 3.37%, followed by Deutsche Telekom which is advancing 2.70%. While Bayer AG is up 2.37%.
DAX Technical Levels
The index has an immediate resistance at 11283. Meanwhile, support is seen at 11078 levels and 10964 levels.
Currently, the DAX 30 trades 1.76% higher at 11188, retreating from fresh session highs of 11263 levels. German stocks extends its upbeat momentum and tracks its other European counterparts higher the stock market rebound in China also helped raise sentiment among investors in Europe.
The index trades with a clear positive market breadth with all stock on the wining end Deutsche Bank AG is the top gainer, up 3.37%, followed by Deutsche Telekom which is advancing 2.70%. While Bayer AG is up 2.37%.
DAX Technical Levels
The index has an immediate resistance at 11283. Meanwhile, support is seen at 11078 levels and 10964 levels.