DAX 30 Flat as European Equities Wait for Fed Announcement News

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Despite surging oil prices, the main European equity indices have Monday largely down, including the DAX 30 in Frankfurt. However, after a late-afternoon recovery, Germany’s benchmark index is flat as it heads into the last part of the day. Having opened the week just a fraction below Friday’s close, the DAX suffered a sharp drop over the first hour and a half of trading. A recovery over the rest of the morning and into the early afternoon saw it recover to around opening levels before another downturn. Rising again over the past hour the index crossed over into positive territory for the first time today at 16:00 before dropping back to match Friday’s close.

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Today’s biggest gainer has been energy utility RWE, which is currently up 3.31%. Peer Eon however, is down 0.14%. Otherwise, there aren’t too many particularly strong gains being registered today on the DAX. Commerzbank is having a reasonably good showing, however, and is up 1.24%, with Deutsche Bank marginally into positive territory, up 0.06%. Deutsche Boerse, the company which runs the Frankfurt Stock Exchange is also doing relatively well with a 1.22% return. Other constituents finishing the day in positive territory include chemical company BASF (0.47%), chemicals and pharma giant Bayer (+0.7%), Deutsche Post (0.35%), Fresenius Medical Care (0.18%), Siemens (0.48%) and conglomerate ThyssenKrupp (+0.38%).

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