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DAX struggling for traction in early trading

The European equity markets have been up and running for around 30 minutes now and it has been a rather tepid start to the day. The DAX did open higher this morning, at 16,743 after closing yesterday at 16,716. However, that opening level has been the high of the session so far. The index has since traded below 16,700 and the lack of traction is perhaps a latent reaction to the weaker than expected German data released earlier this morning. The outlook for German equity markets has also received a downgrade today by Deutsche Bank and that might be weighing on the index too. The DAX is just now trading at 16,690

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