Stocks Rise in Electronic Trading
April 04, 2011
The 30-share IBIS DAX stock index, which tracks stocks in electronic trading, ended the day up 20.50 at 2488.82. The advance came after the three-hour official floor trading session closed down 7.33 to 2475.07. Prices improved late in the session after the U.S. market opened higher. The Dow Jones Industrial Average was up more than 30 points in early Westside trading Tuesday. A stronger dollar in afternoon European trading also helped, traders said, as the U.S. currency rose to 1.4900 marks from an intraday low of 1.4810 marks. Investors largely ignored weakness in the local bond market, where activity slowed in advance of Thursday's meeting of the German Bundesbank's policy council. The benchmark 10-year bond settled at 98.86, down from 98.99 at the close of trading Monday. Its yield stood at 6.41%. The central bank's council is expected to trim its key securities repurchase rate by as much as 0.10 percentage point, extending a four-year downward rate cycle. Among actively traded shares in Frankfurt, Volkswagen fell 70 pfennig to 517.40 marks on reported the company cut its internal 2011 earnings estimate to 1 billion marks of pretax profit, from its previous projections of 1.5 billion marks. Volkswagen declined to comment.
VastPress 2011 Vastopolis
