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DAX edges past 16k but fails to close above the level

Yesterday afternoon the DAX did manage to trade above 16k, but only just. The high seen was set at 16,005. However, the index was not able to post a daily close above 16k and later ended the session, 36 points higher, at 15,994. The index futures are hovering close to that 16k level so far this morning, ahead of the latest German GDP revision due very shortly, at 7am GMT. This is the final reading for Q3 and is not expected to change from the prior reading showing a 0.1% decline over the period. Assuming that is the case, the latest IFO index (at 9am GMT) is probably of more importance to the index this morning. The DAX futures ate currently pricing the reopening at 15,992

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