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DAX futures rebound after the German election result
Unsurprisingly the DAX failed to hold a bounce near 22,400 during the session and fell back by the close on Friday. However, the index only closed 27 points lower on the day, at 22,287. All things considered that modestly lower close was actually not that bad, given the level of uncertainty surrounding the outcome of the weekend German election. That said, at one point the DAX futures did fall close to 22,100 (in terms the opening outlook for today) ahead of the US close later that evening. Well, whilst not 100% yet confirmed it seems the CDU/CSU have managed to gain the largest share of the vote, with the AFD coming in second. The fear in the markets was that it might be the other way around. So, the DAX futures gained on the Asian opening last night. At one stage the opening call was close to 22,600, but that has been pared just now. The DAX is currently priced to reopen around 22,485
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