28 Nov 2014
German equities fail to rise on strong retail sales data
FXStreet (Mumbai) - The stock markets in Germany trade weak in line with the other major European indices as deflationary concerns triggered by falling Crude prices overshadowed the strong retail sales data.
The Dax traded at 0.33% lower at 9944.30 levels at the time of writing. The index breadth is negative with an advance decline ratio of 13:17. Among the index stocks, shares in BASF SE declined 2.01%, followed by Siemens AG, down by 1.55%. Other major losers include Fresenius ST, Lanxess AG, and Merck. Meanwhile, on the plus side is airliner Lufthansa, Henkel VZO, Duetchse Post AG, Deutsche Telekom AG., and Daimler AG.
Moreover, the equity markets failed to respond to a surprisingly strong German retail sales data released today. The Federal Statistics Office data released today showed retail sales rose 1.9% in October, beating expectations of a 1.5% rise.
DAX Technical Levels
The index is trading a whisker away from the all-time high levels. Thus, the immediate resistance is seen at all-time high of 10,050 levels. Meanwhile, support is seen at 9891.20 (Sep. 19 high) and 9800.00 levels.
The Dax traded at 0.33% lower at 9944.30 levels at the time of writing. The index breadth is negative with an advance decline ratio of 13:17. Among the index stocks, shares in BASF SE declined 2.01%, followed by Siemens AG, down by 1.55%. Other major losers include Fresenius ST, Lanxess AG, and Merck. Meanwhile, on the plus side is airliner Lufthansa, Henkel VZO, Duetchse Post AG, Deutsche Telekom AG., and Daimler AG.
Moreover, the equity markets failed to respond to a surprisingly strong German retail sales data released today. The Federal Statistics Office data released today showed retail sales rose 1.9% in October, beating expectations of a 1.5% rise.
DAX Technical Levels
The index is trading a whisker away from the all-time high levels. Thus, the immediate resistance is seen at all-time high of 10,050 levels. Meanwhile, support is seen at 9891.20 (Sep. 19 high) and 9800.00 levels.