Tech Boost Lifts DAX

(RTTNews) - The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange rebounded on Thursday amidst a tech rally and a sentiment boost provided by the declining crude oil prices.

The DAX benchmark which suffered losses in the previous two sessions has rallied 0.78 percent overnight to trade at 24,908.10, versus 24,716.24 at the previous close. The day's trading ranged between a high of 24,926 and a low of 24,763. The index's gains over the year stand at more than 6 percent. The index had touched an all-time high of 25,507.79 on January 13.

In the 40-scrip index, only 12 scrips are trading in the overnight negative territory. Infineon Technologies topped with gains of 5.46 percent. Volkswagen as well as adidas followed with gains of more than 2.7 percent.

Fresenius Medical Care led losses with a decline of 3.6 percent. Rheinmetall followed with losses of more than 2.5 percent.

Amidst a hawkish outlook for the Fed, the U.S. dollar has remained resilient. The six-currency Dollar Index has slipped 0.05 percent overnight and is currently trading at 101.56, after ranging between 101.44 and 101.66. The index had closed at 101.61 on Wednesday. In tandem, the EUR/USD pair has edged down 0.04 percent to 1.1354 after ranging between 1.1374 and 1.1345. The EUR/GBP pair is trading 0.12 percent lower at 0.8620. Meanwhile, the EUR/JPY pair has edged down 0.03 percent and is currently trading at 183.73.

Though global bond yields are trading in a mixed fashion, ten-year German bond yields have decreased, aligning with the trend in much of Europe. Yields are currently at 2.8605 percent, declining 0.33 percent overnight from 2.8701 at the previous close. Yields ranged between 2.8758 percent and 2.8604 percent in the day's trading.

Data released earlier in the day showed Germany's GfK Consumer Climate Indicator edging up to -29.2 heading into July, versus a revised -29.7 in June. Markets had anticipated a reading of -27.6.