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What’s next? – DAX 26.06.17

26 June 2017 03:29 PM BDT
 What’s next? – DAX 26.06.17

The DAX index futures were down in early trading hours on Monday at 12,723.00 points by 06:10 GMT, extending losses in 0.58 percent, with investors looking ahead of fresh data.

 

Last week, the index ended in red territory, with Food & Beverages, Utilities and Pharmaceuticals & Healthcare sectors leading other sectors to the downside.

 

At the closing bell, the DAX stood 60.59 points or 0.47 percent lower at 12,733.41. On the upside, Lufthansa AG VNA O.N. added 0.68 percent or 0.125 points to 18.630. Vonovia SE was up 0.56 percent or 0.20 points at 35.60.

 

Leading stocks lower, RWE AG ST O.N. easing 2.88 percent or 0.565 points at 19.070, followed by E.ON SE NA with 1.35 percent loss or 0.122 points at 8.905.

 

Ahead in the session, business expectations and current assessment for June will be released as of 08:00 GMT, with expectations at 106.4 and 123.3 respectively.

 

Later this week, investors will keep an eye on the latest readings of the German consumer price index, consumer climate and unemployment rate.

 

The previous week was quite disappointing for bulls, who tried hard to break above the 12,900 mark but couldn’t hold it and rebounded to the downside at the 12,700 area. From a technical perspective, the index remains on a positive bias, although it needs concrete support to rally.

 

Central bank speakers will be in focus also in the upcoming days as the ECB kicks off a forum on monetary policy. The DAX is likely to trade inside a range between 12,550 and 12,950.

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