DAX's Relief Rally Post ECB Meet, Asian Rebound

The DAX-30 benchmark of the Frankfurt bourse has made a sharp rebound from Thursday's close to trade close to half a percentage higher. The relief rally, post the ECB's announcements regarding toning down of the bond buying programme was also exacerbated by the rebound in Asian stocks.

Markets shrugged off August's inflation reading of 3.9 percent, highest since December 1993, attributed to base effects and recovery in domestic demand.

The thirty-scrip index is currently trading at 15676.11 up 0.50 percent over previous close.

At current levels, the DAX is 2.20 percent lower than the 52-week high of 16028.60.

Deutsche Bank is the lead scrip with a gain of 2.73 percent, closely followed by online delivery platform Delivery Hero with a gain of around 2.61 percent.

Fresenius Medical Care has declined by 4.50 percent following a rating downgrade by JP Morgan. Deutsche Telekom which recently announced a share-swap deal with SoftBank group is declining by 2.40 percent.

Deutsche Telekom is topping the volume charts with a turnover of 0.5 million euros.

The 30-scrip index which is set to expand to 40 from September 20, is currently trading at an advance to decline ratio of 17:13.

The EURUSD pair is hovering around 1.1835 levels versus 1.1825 on previous day.

The ten-year bund yield is at -0.34 percent versus -0.36 percent on previous day.

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