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German stocks rise ahead of the unemployment data

FXStreet (Mumbai) - The German equity markets opened higher today ahead of the release of the German unemployment figures for October.

The German blue chip index, Dax, is trading 0.56% higher at 9132.50, up from the yesterday’s close of 9082.81 levels. The index breadth is positive with an advance decline ratio of 23:7. Among the index stocks, the German industrial gases maker Linde is trading down by 7.00% after the company cut its 2014 earnings prediction. Meanwhile, Volkswagen AG and Bayer AG are trading higher by 3.98% and 2.85% respectively.

The investors await the release of the German employment figures due at 14:25 GMT. The markets are expecting the unemployment change in October to come-in at 4K, compared to the previous month’s print of 12K.

Dax Technical levels

The index has an immediate resistance at 9140 (Oct 9 high), above which the prices can rise to 9160. On the flip side, support is seen at 9088 and 9040 levels.

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