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23 Jan 2015
German DAX extends gains to fresh record highs
FXStreet (Mumbai) - The German benchmark equity index continues to surge to record highs as the markets in the Eurozone celebrate the ECB’ QE, sending bond yields to record lows along with gains in stock prices.
The Dax currently trades 2.35% higher at 10,678.50 levels. The equity markets are hardly reacting to any other piece of information as investors cheer ECB’s QE. The German 10-yr Bund yield hit a record low of 0.361%. Moreover, the markets are showing no signs of nervousness ahead of the Greek election on Sunday, whereby a victory of anti-bailout Syriza party could derail the Greek’s bailout program and renew concerns of ‘Grexit’.
Among the index stocks, except Lufthansa AG and Deutsche Post AG, all others have posted strong gains. Shares in BMW ST are up 5.29%, followed by a 5% gain in Bayer AG. The slight slowdown in the German manufacturing activity indicated by the preliminary PMI reading earlier today has failed to have any impact on the German stock markets.
The Dax currently trades 2.35% higher at 10,678.50 levels. The equity markets are hardly reacting to any other piece of information as investors cheer ECB’s QE. The German 10-yr Bund yield hit a record low of 0.361%. Moreover, the markets are showing no signs of nervousness ahead of the Greek election on Sunday, whereby a victory of anti-bailout Syriza party could derail the Greek’s bailout program and renew concerns of ‘Grexit’.
Among the index stocks, except Lufthansa AG and Deutsche Post AG, all others have posted strong gains. Shares in BMW ST are up 5.29%, followed by a 5% gain in Bayer AG. The slight slowdown in the German manufacturing activity indicated by the preliminary PMI reading earlier today has failed to have any impact on the German stock markets.