Stocks Slip on Dollar's Weakness
May 08, 2011
The weighted 30-share IBIS DAX stock index, which is based on prices in electronic trading, lost 7.70 to 2554.42 after rising 2.70 on Friday. Volume was light throughout the day due to a British bank holiday. The dollar was quoted at 1.4790 marks late Monday in Europe, down from 1.4850 late Friday. Around the same time, the benchmark German 10-year bond was priced at 99.04 to yield 6.38%, down from Friday's 99.30, to yield 6.34%. Earlier Monday, the DAX stock index of 30 blue-chips dropped 2.80 to 2552.36 in floor trading, after easing 2.10 on Friday. The DAX and the IBIS DAX are composed of the same stocks and weightings though track trends in two separate marketplaces. Shares opened lower on a weaker dollar, traders said. But it was mostly range-trading Monday, with no U.S. or local economic news to direct trading.
