DAX index recovers on Monday led by car makers

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Source: Dukascopy Bank
© Dukascopy Bank
German DAX Index closed 0.6% down at  6,143.08  on Friday, but managed to recover on Monday, led by car makers and consumer goods sector. BMW AG and Daimler AG surged 2.6% and 3.48% respectively, after Goldman Sachs upgraded both companies to buy status. On the downside were Heidelbergcement and Thyssenkrupp AG, declining 3.86% and 1.39% respectively. At the moment of writing DAX Index is 0.35% or 21.71 points up at 6,164.44.

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Mon, 16 Jan 2012 16:51:36 GMT

Correlation between German DAX index and EUR/USD pair declines

The link between DAX Index and EUR/USD currency pair weakened further, reaching 0.48 in afternoon trade. A rapid downward pattern was observed between German benchmark and Nasdaq Composite (CCMP) as coefficient dropped to 0.6 on Monday. German DAX index faced diminishing relationship with its European counterpart Stoxx Europe 600 Index (SXXP) in the last trading session as the correlation coefficient

Mon, 16 Jan 2012 16:51:03 GMT

FTSE keeps stable correlation with S&P 500

FTSE 100 (UKX) Index moved relative close with S&P 500 Index (SPX) and Stoxx Europe 600 Index (SXXP) in last trading sessions, as both correlation coefficients averaged 0.66 and 0.68 respectively. The link between UK benchmark index and gold (GOLDSH) remained steady at 0.4. Meanwhile the negative relationship between UK benchmark and USD/CAD currency pair weakened from minus 0.6 to

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