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Yesterday all the major European stock markets posted higher closes and the gains were actually led by the CAC 40, but more on that index later this morning. The CAC closed 0.79% higher and the FTSE 100 closed with a gain of 0.56%. The DAX bought up the rear with a rise of 0.41% on the day. The index closed 73 points higher, at 17,885. The gains later in the Dow Jones and S+P 500 have helped to push the DAX futures higher so far today. The index looks like it is still attempting to fill an open price gap at 17,951 and that was not reached yesterday. The high seen yesterday was set at 17,921. What is also interesting here, is the fact that a 50% correction of the whole move lower, comes in at 17,958 (50% of 18,892 to 17,024) and as you can see that is right at the same level of the gap-more or less. The DAX futures are right now pricing the opening at around 17,960 which means if it does open at that level, it will meet both those objectives and perhaps we might soon have a look at 18k again for the German benchmark
The European stock markets have been open for less than 20 minutes and in that time we have seen underperformance from the FTSE 100 and the CAC 40...
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