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  • Sunday: Closed

Dax 30 hits highest on Monday since last year, boosted by Auto-sector - Capital Street FX

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    • Dax 30 hits highest on Monday since last year, boosted by Auto-sector
19:00 IST

DAX 30 futures are currently trading at 13,116.0-higher by 01.30% as compared to the previous closing.

In the Cash Markets, the DAX 30 added 1.20% to 13,117.45 at the time of writing. the rally was led by Auto stocks and progress made on U.S-China phase 1 trade deal.

On the news front, European markets hit their highest on Monday since Aug. last year. The market rallied after the news that the U.S will not levy import tariffs on European cars.

Auto components group continental, Daimler, Volkswagen and BMW were the best performers, all rose by more than 2% on Monday.

Dutch oil and Vopka were the worst performers on Monday. Share prices of Dutch Oil and Vopka fell more than 3.6% after less-than-expected quarterly earnings report.

On the data front, German manufacturing Purchasing Manager Index released its report for the October month. The reading rose to 50.7 from 50.1 in the previous month.

On the technical front, the market is trading on the positive side after a gap up opening. The market is trading above 5-day ema and the MACD indicates strong bullish momentum.



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