17 Feb 2015
DAX falls on Greek woes, ZEW eyed
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened with a negative gap of 74 points and fell further as Greece and its euro zone counterparts failed to make an agreement on the country's future.
Currently, the DAX 30 traded lower by -1.35% at 10,776 levels, having previously posted day’s highs at 10851.90 levels. The DAX traded lower as traders mull over Greece and EU failure to seek Greek debt resolution, as traders now expect that cheerful German ZEW business sentiments data may cushion the losses.
The index is seen trading with a negative market breadth with an advance decline ratio of 11:19. Among major gainers, Commerzbank AG is the top gainer, up 0.61%, followed by Deutsche Bank AG up nearly 0.42% on the day. On the losing end, Allianz SE and BMW AG are down -0.85% to -1.49%.
DAX Technical Levels
The index has an immediate resistance at 10850. Meanwhile, support is seen at 10700 levels and 10642 levels.
Currently, the DAX 30 traded lower by -1.35% at 10,776 levels, having previously posted day’s highs at 10851.90 levels. The DAX traded lower as traders mull over Greece and EU failure to seek Greek debt resolution, as traders now expect that cheerful German ZEW business sentiments data may cushion the losses.
The index is seen trading with a negative market breadth with an advance decline ratio of 11:19. Among major gainers, Commerzbank AG is the top gainer, up 0.61%, followed by Deutsche Bank AG up nearly 0.42% on the day. On the losing end, Allianz SE and BMW AG are down -0.85% to -1.49%.
DAX Technical Levels
The index has an immediate resistance at 10850. Meanwhile, support is seen at 10700 levels and 10642 levels.