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Not an impressive set of European closes-check out the DAX futures this morning

As noted here late yesterday afternoon, it was not exactly an impressive set of European equity market closes. All the major indexes limped home to a set of slightly lower closes on the day. All were in single digits in points terms and so barely registered in percentage terms either. Nonetheless it was still a series of outside day reversals for the likes of the DAX and the CAC 40 albeit by very small margins. Technically it would have been the same for the FTSE 100 too, but of course that cannot happen, owing to the fact it always plots its opening as of the close the previous day. So, in essence we had a series of very modest reversals from 2023 highs in the DAX and the CAC, but will that count much when live trading resumes today? We shall have to see on that. The DAX had reopened at 16,823 which was a record high opening. It then set a new all time high at 16,837 before later closing just 2 points lower on the day, at 16,791. The index had fallen back to a low at 16,753 ahead of that close. There is no doubt the gains in the US last night have helped to push the DAX futures higher since then and so right now the index is set to open slightly higher this morning, currently at around 16,800 
 

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