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DAX opens higher but backs off in early trade

The European stock markets have just reopened for live trade and it has been a higher opening for all the major indexes. That said, the initial gains have been pared back and so far the DAX has balked at a move above 16,800. Of course it is very early in the day and much can and probably will change as the session unfolds. As things currently stand, the DAX, CAC 40 and FTSE 100 are pretty much matching strides in terms of their opening percentage gains. The DAX is just now trading at 16,775

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