DAX Index Fell Despite Strong Eurozone and German Manufacturing Data
The German DAX stock index fell today after significant growth during yesterday's session. The DAX decreased by 0.21% and is trading at the level of 13.442.00. Yesterday, the DAX index rose 1.6% due to positive corporate earnings releases. A stable German economy contributed to the growth of German stock markets. It is expected, that growth of the DAX index will continue if the German economy continues to expand in the fourth quarter.
Production activity in the Eurozone rose at the fastest pace for more than six years in October. Eurozone Manufacturing PMI rose to an 80-month high of 58.5 in October from 58.1 in September. However, the indicator was slightly lower than the original estimate of 58.6. German Manufacturing PMI reached 60.6 in October, remaining unchanged at the 77-month high of September. The preliminary estimate was 60.5.