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DAX opens lower as European rally fizzles out

As expected, the European stock markets opened lower this morning. The CAC 40 slipped below 7,650 and the DAX dropped towards the 18,100 handle after officially reopening at 18,300. Of course no one could have traded at that level, as it was the usual book entry and not a price to sell at. The low seen so far is around 18,110 and despite an initial attempt to rebound the DAX is testing the lows just now 
 

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