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DAX set for a markedly higher opening this morning
The DAX was by some margin the best performing major European stock market yesterday. In fact it was the only one of the three not to post a lower close on the day. As reported here that was largely due to M+A fever surrounding the German lender, Commerzbank. That stock later closed 16.55% higher and led the DAX to eventually gain 64 points on the session, at 18,330. That modest 0.35% gain belied a loss of 0.14% for the CAC 40 and 0.15% for the FTSE 100. The DAX futures have risen since before and after the US close and right now the index is set for a markedly higher opening shortly this morning. The prospect of an ECB rate cut probably is also a supporting factor today too. The DAX is currently priced to reopen at around 18,520
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