DAX set to open lower this morning

The European stock markets enjoyed a positive end to the week on Friday, with all the major indexes closing higher on the day. The best performer on the day was the CAC 40, with a gain of 0.96% on the session. The FTSE 100 closed 0.56% higher and the DAX gained 0.56%. However, all those closes came ahead of the losses later on Wall Street, so it is not much of a surprise to see the European futures in the red this morning. That said, we are not talking about heavy losses here this morning. The DAX closed on Friday at 15,893 after earlier rejecting a rise above 16k (15,989 the high). That high was noted here at the time, as was the rejection of that 16k level. The close was also below both its 50 and 100 day moving averages (then at 15,917 and 15,943 respectively), which was not exactly a ringing endorsement either. So, the index is set to reopen this morning at around 15,845 as the DAX futures just now probe the downside a bit more