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DAX set to open sharply lower this morning

The fall in the US stock markets into the monthly close last night has done the European stock markets no favours and it is going to be a lower opening shortly for the major indexes here. The DAX and the FTSE 100 had already posted a lower daily close for the final session of the month yesterday and are both set to open lower this morning. The FTSE 100 was the worst of the two, with a 0.47% loss on the day and the DAX handed back 0.40%. The German benchmark closed 68 points lower, at 16,903, after once again failing to make a move above 17k. The index had topped out yesterday at 16,991. The DAX futures are very much in the red this morning right now and currently pricing a reopening at below 16,800. The current indication there is for the index to kick off the new month at around 16,790

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