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DAX

24 August 2017 03:00 PM BDT
DAX

The DAX futures traded 0.09 percent higher at 12,190.5 points as of 07:15 GMT on Thursday, with investors looking at the Jackson Hole symposium for direction, while market sentiment continued to improve on the back of lower geopolitical risks. The German benchmark ended 0.45 percent lower in Frankfurt on Wednesday, with telecoms, construction and media weighing on the index. The best performers of the session were Deutsche Bank, which advanced 0.44 percent to 13.800, Fresenius adding 0.34 percent to 70.650 and BASF up 0.18 percent to 82.370. The worst performers were Prosiebensat 1 Media falling 3.74 percent to 32.810, Thyssenkrupp easing 1.16 percent to 25.100 and Heidelbergcement down 0.99 percent to 80.170. Yesterday, European stocks found support on activity indexes from Germany and the euro zone. According to Markit Economics, German manufacturing and services PMI indexes came in at 59.4 and 53.4 respectively in August, both moving above expectations. Euro zone’s manufacturing PMI index for August came in at 57.4, also above an estimated 56.3. The composite index was at 55.8, while the services PMI missed an expected 54.9. Today there are no relevant reports scheduled in Germany. For such reason, traders will look for direction at the US economic calendar. Initial jobless claims and existing home sales for July are due for release as of 12:30 GMT and 14:00 GMT respectively. From a technical perspective, no strong movements are expected in the day. The benchmark will mostly probably remain inside the 12,000 12,350 range until the end of the week.

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