BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Lifted by the momentum in technology stocks, the DAX benchmark is close to recording a three-day gaining streak. Positive earnings scorecard also supported market sentiment.
The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange has surged 0.60 percent overnight to trade at 26,504.58, versus 26,347.45 at the previous close. The day's trading ranged between a low of 26,491.77 and a high of 26,659.42.
In the 40-scrip index, 16 scrips are trading in the overnight positive territory.
Amidst upbeat earnings report, Siemens Energy topped with gains of 9.5 percent. Infineon Technologies followed with gains of close to 7 percent.
Brenntag led losses with a drop of 3.9 percent. Rheinmetall as well as Zalando, both declined close to 3 percent.
With Fed rate hike expectations increasing after the disappointing inflation update, the dollar has rebounded. The six-currency Dollar Index has rallied 0.31 percent overnight and is currently trading at 102.55, after ranging between 102.23 and 102.55. The index had closed at 102.23 a day earlier.
In tandem, the EUR/USD pair has slipped 0.24 percent to 1.1137 after ranging between 1.1170 and 1.1131. The EUR/GBP pair is trading flat at 0.8366. Meanwhile, the EUR/JPY pair has edged up 0.01 percent and is currently trading at 177.22.
Ten-year German bond yields have decreased, in tandem with the trend in much of Europe. Yields are currently at 3.2931 percent, slipping 0.43 percent overnight from 3.3074 at the previous close. Yields ranged between 3.3168 percent and 3.2849 percent in the day's trading.
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