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DAX set to open modestly higher this morning

As covered in the previous update here, the DAX was the second worst performing major European stock market on Friday. Ahead of that close, the DAX had fallen back to a low at 17,865, after it had handed back all its earlier session gains to 18,162. That reversal of fortune ensured the dye was cast ahead of the weekend. The DAX later closed 24 points lower, at 17,930. The futures price came under further pressure later in the US session and was pricing a reopening for today around 17,830. However, subsequent to all that has transpired over the weekend, the outlook is a little more positive so far today. So with around 15 minutes to go before live trading resumes, the DAX is priced to reopen around 17,990

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