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DAX set to open modestly lower this morning

Yesterday, the major European stock markets enjoyed a decent start to the new week, as they all closed higher on the day. The best performer in percentage terms was the DAX. The index closed 0.79% higher, compared to gains for the CAC 40 of 0.72% and 0.41% for the FTSE 100. The DAX closed 143 points higher, at 18,318. However, the rather tepid US closes last night has pushed the DAX futures a little lower this morning and right now the index is priced to reopen lower, currently around 18,270. Of course that outlook might change over the next hour or so, but there is a lack of traction so far this morning

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