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Europe now a haven? DAX set to open higher this morning
Yesterday the European stock markets avoided the fall out in the US tech sector and that is probably not too much of a surprise. So, the FTSE 100, CAC 40 and DAX all closed higher on the day. The CAC 40 was the best performer in percentage terms, rising by 0.71% on the session. The DAX closed 0.69% higher and the FTSE 100 gained 0.36%. All those futures prices are higher this morning too and so it looks like we get a higher opening here shortly. What also appears to be happening right now, is rotation out of tech and back into the European equity space, perhaps as haven against immediate further tech risk? Hence the DAX, which closed 127 points higher yesterday, at 18,534, is set to open higher this morning. The current indication is that it will kick off the final session of the week, at around 18,585. It will be interesting to see if the Index will hold opening gains when live trading resumes
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