DAX Extends Losses

(RTTNews) - With corporate earnings in the spotlight, the DAX extended losses on Wednesday. Anxiety ahead of the job market update from the U.S. which is expected to be decisive for the Federal Reserve's monetary policy strategy lingered.

The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange is currently trading 0.33 percent lower at 24,903.30, versus the previous close of 24,985.82. The day's trading ranged between a high of 25,001.16 and a low of 24,849.77. The index had touched an all-time high of 25,507.79 on January 13.

In the 40-scrip index, only 13 scrips are trading in the overnight green zone. Siemens Energy topped with gains of 5.4 percent. Vonovia followed with gains of 4.2 percent. Brenntag, Henkel, RWE as well as Hannover Ruck have added more than 1 percent.

Despite lifting profit guidance and reporting higher-than-expected earnings in the previous quarter, Commerzbank declined 5.3 percent Zalando followed with losses of 3.8 percent. Scout24 shed 2.3 percent. Deutsche Bank as well as Rheinmetall also recorded losses of close to 2 percent.

Ahead of the monthly payrolls data, the U.S. dollar declined on Wednesday, dragging the six-currency Dollar Index 0.26 percent lower to 96.54. The EUR/USD pair rallied 0.22 percent to 1.1920 after ranging between 1.1926 and 1.1886. The EUR/GBP pair is trading 0.15 percent lower at 0.8704. Amidst the yen's extended rally, the EUR/JPY pair has decreased 0.57 percent to 182.60.

In tandem with the global decline in bond yields, ten-year German bond yields eased 0.31 percent overnight to 2.7952 percent. The yield which was at 2.8040 percent at the previous close ranged between 2.8102 percent and 2.7950 percent in the day's trading.