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DAX rises 0.40%

FXStreet (Mumbai) - The German equity index has inched higher today, contradicting the nervousness inn the Asian equity markets.

The Dax is trading 0.47% higher at 8759.00 at the time of writing. The Index has been pushed higher by Infineon stock which is up 3.21%. Meanwhile the airline Lufthansa and the Commerzbank have gained 1.67% and 1.9% respectively. The losers include the car maker BMW, down by 0.73% and Deutsche Post, down by 0.64%.

No major economic data are due out of the Eurozone today. However, the growth concerns will continue to cap gains in the stock markets. Moreover, a better than expected GDP data out of China has failed to prop-up the markets across the Asia today.

Dax technical levels

The index has an immediate resistance of 8850 levels (Oct 17 high, above which the prices face a major resistance of 8903 (Aug 8 low). On the flip side, the index can fall to 8500 levels if the days’ low of 8646 is breached.

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