Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, today. – Reuters pic, March 14, 2016.The German blue-chip DAX index today rose above the key psychological level of 10,000 points for the first time since mid-January, driven higher by a strong start to the week across Asian markets, traders said.
The DAX index rose by 2.1% to an intraday high of 10,039.61 within the first hour of trading, the first time it has been above 10,000 points since January 13.
The index subsequently fell back somewhat and stood at 9,986.69 at 0920 GMT.
Traders said that following the decision last week by the European Central Bank to cut rates and boost its bond-buying in a bid to kickstart the tepid eurozone economy, investors will be focussing on more central bank action again this week.
The Bank of Japan started a two-day meeting Monday, while the Federal Reserve and Bank of England also gather this week.
Markets are keen to see if Japanese policymakers unleash fresh stimulus, after launching a widely-panned negative interest rate policy in January, while the Fed talks will be watched for clues about a possible timeline for more rate hikes.
The Bank of England is expected to leave its main lending rate at 0.50% following a gathering later in the week. – AFP, March 14, 2016.
Comments
Please refrain from nicknames or comments of a racist, sexist, personal, vulgar or derogatory nature, or you may risk being blocked from commenting in our website. We encourage commenters to use their real names as their username. As comments are moderated, they may not appear immediately or even on the same day you posted them. We also reserve the right to delete off-topic comments