1 Jul 2015
DAX jumps over 2% on Tsipras bailout
FXStreet (Mumbai) - Germany’s benchmark index, the DAX bounced-back sharply, snapping previous declines and rallied higher tracking other European indices following media reports that Greece is ready to accept bailout conditions, although with certain changes.
Currently, the DAX 30 trades nearly 2.22% higher at 11188.30 levels, swinging back higher above 11k marker. The German stocks halted its two-day decline and rebounded higher as euro zone officials are set to discuss Greece once again, with Athens reportedly stating it will accept its creditors' bailout conditions proposed last weekend.
The index trades with a clear positive market breadth with all stocks on the winning end. Volkswagen AG leads the index, up 2.90% followed by Daimler AG, gaining 2.80%. Deutsche bank is also recording a 2.73% gain on the day.
DAX Technical Levels
The index has an immediate resistance at 11299.61. Meanwhile, support is seen at 11000 levels and 10806 levels.
Currently, the DAX 30 trades nearly 2.22% higher at 11188.30 levels, swinging back higher above 11k marker. The German stocks halted its two-day decline and rebounded higher as euro zone officials are set to discuss Greece once again, with Athens reportedly stating it will accept its creditors' bailout conditions proposed last weekend.
The index trades with a clear positive market breadth with all stocks on the winning end. Volkswagen AG leads the index, up 2.90% followed by Daimler AG, gaining 2.80%. Deutsche bank is also recording a 2.73% gain on the day.
DAX Technical Levels
The index has an immediate resistance at 11299.61. Meanwhile, support is seen at 11000 levels and 10806 levels.