German DAX Stock Index Continues to Increase
The main stock indexes in Europe are growing. The German DAX index rose by 0.31% and is trading at 12.695.50 level. A survey by the GfK research group showed that the consumer confidence index in Germany unexpectedly fell to 10.8 in October from 10.9 in September. It was expected, that the score would be 11.0.
Markets are waiting for data on the Preliminary CPI of Germany. According to forecasts, the consumer price index rose by 0.1% per month and increased by 1.8% in annual terms.
German Chancellor Angela Merkel is in a weakened position after the elections last week, and she will probably have to make serious concessions in order to form a coalition government. The most likely partners in the coalition with Merkel’s CDU party are two small parties - the Free Democratic Party (FDP) and the Green Party of Germany.