🔼DE30 gains more than 2%🔼

1:10 PM 7 December 2021

DAX extends yesterday's rebound amid tech sector recovery

Since the beginning of today's session, we have seen a clear acceleration of increases on indices, especially in Europe.  It is worth paying attention to the German DAX. The DAX contract, i.e. DE30 is up more than 2% today, while since yesterday's bottom it has gained more than 4%. Only today we have a breakout above the 200, 50 and 14 period averages. DE30 is approaching the 61.8 Fibo retracement of the last downward impulse.  The break of this level will be associated with the rejection of the negative attitude in the mentioned impulse.

DAX is one of the best performing indices, also when compared to US contracts. We have a recovery today on the side of technology companies. In Germany, positive sentiment is linked to good industrial data and due to a smaller decline in the ZEW index. The biggest influence on sentiment, however, is indications that Omicron is probably not as threatening as initially thought.

All sectors in the DAX index are gaining. Consumer services and technology companies are the best performers. Source: Bloomberg

Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits