DAX Records Strong Gains

(RTTNews) - The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange is trading with strong gains amidst an overwhelmingly positive sentiment in global markets. The steady level of German consumer price inflation, waning worries about a global AI bubble as well as positive sentiment generated by the recent monetary policy action by the Federal Reserve bolstered sentiment.

The index is currently trading 0.41 percent higher at 24,377.40, versus the previous close of 24,278.21. The day's trading ranged between a high of 24,478.90 and a low of 24,359.64.

In the 40-scrip index, only 13 scrips are trading in the overnight red zone. Adidas topped with gains of 2.4 percent. Infineon Technologies, Airbus and Volkswagen have all rallied more than 1 percent.

Siemens Energy topped losses with a decline of 1.1 percent. Fresenius as well as Merck both followed with losses of a little less than a percent.

The Dollar Index firmed up on Friday amidst the hardening in global bond yields, lifting the six-currency Dollar Index 0.08 percent higher to 98.43. The EUR/USD pair is currently trading 0.06 percent lower at 1.1732 after ranging between 1.1747 and 1.1727. The EUR/GBP pair has edged up 0.03 percent to 0.8770. The EUR/JPY pair has increased 0.13 percent to 182.92.

Ten-year German bond yields hardened 0.49 percent overnight to 2.8599 percent despite data revealing a steady level of inflation in line with expectations. The yield which was at 2.8460 percent at the previous close ranged between 2.8608 percent and 2.8429 percent in the day's trading.