DAX Rebounds On Upbeat Corporate Results

(RTTNews) - The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange rebounded on Thursday as investors evaluated a fresh batch of corporate earning scorecards. The index had closed in the red on Wednesday amidst renewed fears about AI-related disruptions and a jobs-data led moderation in Fed rate cut expectations.

The DAX index is currently trading 1.31 percent higher at 25,205.95, versus the previous close of 24,880.41. The day's trading ranged between a high of 25,224.95 and a low of 24,993.71. The index had touched an all-time high of 25,507.79 on January 13. In the 40-scrip index, 24 scrips are trading in the overnight green zone.

Amidst a raised earnings guidance and better-than-expected results, Siemens jumped 6.9 percent. Commerzbank rebounded 4.1 percent after a 2-percent decline on Wednesday. Deutsche Telekom and Continental, both have added more than 3 percent.

Mercedes Benz Group led losses with a decline of 3.8 percent. Symrise, Heidelberg Materials as well as RWE recorded losses in excess of 2 percent.

The six-currency Dollar Index is hovering close to the flatline on Thursday, despite a strong labor market update a day earlier that led markets to pare rate cut expectations from the Federal Reserve. The index is now trading at 96.82 versus 96.83 at close on Wednesday and 96.80 at close on Tuesday. The EUR/USD pair has edged up 0.04 percent to 1.1876 after ranging between 1.1888 and 1.1852. The EUR/GBP pair is trading 0.05 percent lower at 0.8707. Amidst the yen's extended rally, the EUR/JPY pair has decreased 0.12 percent to 181.74.

Despite a downward bias in bond yields globally, ten-year German bond yields have edged up 0.05 percent overnight to 2.7975 percent. The yield which was at 2.7960 percent at the previous close ranged between 2.8056 percent and 2.7920 percent in the day's trading.