DAX Trades In The Red
(RTTNews) - The positive sentiment that triggered Tuesday's rally on the DAX was missing on Wednesday as markets speculated on the ceasefire between Israel and Iran. The benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange had staged an emphatic rebound on Tuesday.
The index is currently trading 0.46 percent lower at 23,532.35, versus the previous close of 23,641.58. The day's trading ranged between a high of 23,713.24 and a low of 23,511.16.
In the 40-scrip index, only 9 scrips are trading in the overnight green zone. Rheinmetall topped gains with a surge of 1.96 percent followed by Sartorius that added 1.2 percent.
Commerzbank topped losses with a decline of 4.2 percent. Daimler Truck Holding followed with losses of more than 2 percent.
Despite the ceasefire announcement and the dramatic easing in geopolitical tensions a day earlier, the dollar rebounded on Wednesday, lifting the six-currency Dollar Index 0.21 percent higher to 98.06. The EUR/USD pair is currently trading flat at 1.1609 after ranging between 1.1631 and 1.1591. The EUR/GBP pair has edged up 0.06 percent to 0.8529. The EUR/JPY pair has increased 0.52 percent to 169.13.
Ten-year bond yields hardened 0.87 percent overnight to 2.5570 percent. The yield which was at 2.5350 percent at the previous close ranged between 2.5600 percent and 2.5030 percent in the day's trading. Concerns about the strong budget spending plans and a higher level of borrowing weighed on German bond yields, lifting it much more than its peers.
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