DAX Rises As Growth Euphoria Dims Rate Hike Fears

(RTTNews) - The DAX benchmark of the Frankfurt bourse moved higher on Friday, as euphoria surrounding the more than expected growth in the U.S. eclipsed anxiety ahead of the interest rate decisions by the European Central Bank, Federal Reserve and the Bank of England. The ECB has already hinted at continuing the fight against inflation. Markets are also eagerly awaiting the PCE-based inflation readings from the U.S. on Friday. The forty-scrip DAX index is currently trading at 15,172.85, up 0.26 percent on an overnight basis. The day's trading has been within the range of 15,113.85 and 15,174.85.

Only 13 scrips in the 40-scrip index are trading in overnight negative territory.

Heidelberg Cement, adidas and Zalando, have all gained more than 2 percent.

Sartorius declined 2.7 percent after Thursday's rally. Airbus has also declined 1.6 percent.

The EUR/USD pair gained 0.04 percent to trade at 1.0893.

The ten-year bond yield has increased 2.33 percent to 2.2655%, versus 2.2140% at the previous close.

Earlier, data released by the European Central Bank showed lending to households rising only by 3.8 percent versus the growth of 4.1 percent in the previous period and. Growth in loans to companies dropped to 6.3 percent, from 8.3 percent growth in the prior period.