European Shares Broadly Higher, DAX 1.07% Up

Forex News

European stock indices are trading higher today, as investors watch the results of midterm elections in the US. The German DAX stock index continues to trade with gains. The DAX added 1.07% to trade at 11.606 level.

Following US congressional midterm elections, the Democrats regained control of the House of Representatives for the first time since 2010, but the Republicans maintained control of the Senate, and have increased their majority.

Investors are also focused on the FOMC rate statement, to be released tomorrow. The US central bank is expected to keep the benchmark rate at a range of 2.0%-2.25%. A hawkish rate statement could boost global equity markets.

Today’s data showed, that German industrial production rose slightly more than expected in September. German industrial output increased by 0.2% in September compared with August. This was the second consecutive monthly increase. On annual basis, the volume of industrial production increased by 0.8%, following a revised 0.2% gain in August. Analysts expected 0.1% gain in monthly terms and a rise of 0.5% in annual terms.