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DAX futures shrug off weak German data

The DAX was the best performing major European stock market index yesterday and by some margin too. The index closed 122 points higher, at 16,716. The gains in the US markets and the Nasdaq 100 in particular helped the DAX maintain its gains on the day into the close. This morning the latest German industrial production data for November has just been released and it was expected to show an improvement (to around +0.3%, from a prior reading of -0.4%) . Well, it has not done that and the data has revealed a fall of -0.7% on the month and a greater annualised fall of -4.8%. Prior to this the DAX futures were pricing a higher opening this morning and that is still the case, despite this weak data. Once again, it remains to be seen if the index will shrug this off when live trading resumes. The DAX is currently priced to open at around 16,755

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