DAX (1 Hour)
German stocks declined for a second day in a row as investors awaited a report that might confirm that the combined economies of the euro area did expand last quarter. Deutsche Lufthansa AG (LHA),Europe’s second-largest airline, retreated 3.2 per cent as a range of travel and leisure shares recorded losses in the Stoxx Europe 600. K+S AG (SDF) advanced 1.6 per cent as Macquarie Research upgraded the producer of potash. The DAX (DAX) slipped 0.3 per cent to8,160.02 at 9:42 a.m. in Frankfurt. The measure lost 3.7 per cent last week over concerns that the U.S. will take military action against Syria after the Assad regimes alleged use of chemical weapons. The broader HDAXIndex also retreated 0.3 per cent today.
- Support Levels around 8098, 8175
- Resistance Levels around 8244, 8300
Written by Michael Qureshi (Varengold FX Bank, London) for financialnewsroom.com