22 August 2005, 17:54  German shares remain slightly higher midafternoon on US futures, autos rebound

Shares remained slightly higher in midafternoon trade amid expectations of a higher opening on Wall Street and paced by auto stocks, which rebounded from dollar-inspired losses last week, though TUI fell on news it will acquire CP Ships for 1.7 bln eur, dealers said. At 2.46 pm, the DAX 30 index was 5.77 points or 0.12 pct higher at 4,935.68, having moved between 4,929.96-4,954.41 so far this session. The MDAX was at 6,775.12, up 33.41 points or 0.50 pct, while the TecDAX was at 582.08, down 1.23 points or 0.21 pct. The DAX futures was at 4,943.00, up 14.00 points or 0.28 pct, while the bund futures was flat at 123.04. The euro last traded at 1.2224 usd, compared with 1.2236 in midday London trade. The DAX opened flat this morning following a mixed showing on Wall Street on Friday and amid a dearth of local news, but edged slightly higher as auto stocks gained and as US stock futures pointed north. Volkswagen was the best performer, adding 0.71 eur or 1.61 pct to 44.71, while DaimlerChrysler rose 0.35 to 42.52.

© 1999-2024 Forex EuroClub
All rights reserved