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DAX extends gains above 16,200

The DAX is on the rise again following a slight drop back from the opening. The index is now rising to fresh session highs above 16,230 and hence one step closer to the July 31 high, at 16,528. It should also be noted here; that July high was an all time record for the DAX too and the further gains this morning coming into the month end underscores the DAX as holding pole position this year amongst the major European indexes. However, I should also mention that the Spanish IBEX and Italian FTSE MIB have performed even better on the year. Irrespective of that, it looks like the DAX is set  to end the month on a high note, so long as the current gains are not set back too much over the next 4-5 hours. The index is currently trading at 16,235

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