Euphoria around China's significant liquidity easing measures and the possibility of another rate cut by the European Central Bank (ECB) in October propelled the DAX benchmark to a record high on Friday. Lower-than-expected inflation data from France and Spain also intensified rate cut expectations.
The 40-constituent DAX index currently trades at 19,359.25, marking a 0.72 percent rise from its previous close of 19,220.2. The day's trading ranges were between a high of 19,366.25 and a low of 19,252.25.
Within the index, only 12 constituents are experiencing declines. Brenntag has surged by 6.2 percent, followed closely by BASF, which has gained 5.7 percent. Porsche and Continental have both rallied over 4 percent, while Infineon Technologies, Siemens Healthineers, and Zalando have each increased by more than 3 percent in today’s trading.
Conversely, Siemens Energy fell by 1.7 percent. Munchener Ruck, SAP, and Hannover Ruck each declined by more than 0.75 percent.
The EUR/USD pair has slipped 0.22 percent and is currently trading at 1.1151, with a trading range between 1.1179 and 1.1125. The EUR/GBP pair has edged up 0.02 percent to 0.8334, whereas the EUR/JPY pair has dropped 1.34 percent to 159.71.
Aligning with the global trend in easing bond yields, German bond yields decreased by 1.7 percent, now standing at 2.1360 percent compared to the previous closing of 2.173 percent. The yield for the day has ranged between 2.109 percent and 2.1895 percent.
Earlier data showed that Germany's unemployment rate held steady at 6 percent, as expected. However, the number of unemployed individuals rose by 17,000 in September 2024, against the market's anticipation of a 12,000 increase.
