DAX Improves Despite Falling German Business Climate Index

Forex News

European stocks rose today after the European Union and the United Kingdom finally agreed on an agreement regulating Britain’s withdrawal from the block on March 29. The weakening of budget problems in Italy and the hope that US President Donald Trump and Chinese President Xi Jinping will discuss trade at the G20 summit in Argentina, also contributed to the growth of investor sentiment.

The German DAX stock index is trading at 11.330, having added 0.13% on the day. Still, the DAX remains under strong pressure and posted sharp losses for a second straight week. Over the last two months, the DAX has lost near 9%.

Today’s data showed, that Ifo business climate index fell to 102.0 in November, down from 102.9 in October and missed forecast of 102.3. Current assessment gauge fell to 105.4 in November, down from 106.1 in October and missed expectation of 105.6. Expectations gauge fell to 98.7, down from 99.7, missed expectation of 99.3.