Friday, 18 August 2017

What’s next? – DAX 18.08.17

Posted by Anonymous at 13:21 Labels:

DAX

The DAX futures traded 0.73 percent lower at 12,110.5 points as of 08:10 GMT on Friday, with market risk-off sentiment taking the lead following a terrorist attack in Barcelona.

On Thursday afternoon, a white van was driven into a crowd in Las Ramblas, one of Barcelona’s busiest tourist areas, located at the very heart of the city.

According to the government, thirteen people were killed and more than 100 people were injured in this attack. Terrorist group Islamic State Claimed responsibility for it.

Traders opted to turn into safe-havens and leave equities behind as fears quickly spread.

Earlier today, Germany’s production price index rose 0.2 percent in July, beating expectations for a 0.1 percent increase and a previous month unchanged reading. However, upbeat data has proven not to have serious effects on the direction of the benchmark lately.

Yesterday, attention was directed to the latest minutes of the European Central Bank’s monetary policy meeting. The document showed that policymakers were concerned about a possible overshoot in the euro back in July.

The euro has been gaining positions against the US dollar and other rivals lately, making EU exports more expensive overseas and therefore, less of an interesting option for buyers.

"Concerns were expressed about a possible overshooting in the repricing by financial markets, notably the foreign exchange markets, in the future, [...] It was underlined that the still favourable financing conditions could not be taken for granted."

Germany stocks ended mixed on Thursday in Frankfurt, with retail, pharmaceuticals and utilities pushing upwards, while banking, construction and transportation weighed on the benchmark.

The best performers of the session were RWE, which added 1.09 percent to trade, followed by Fresenius Medical Care rising 1.01 percent to 79.920 and Linde up 0.45 percent to 166.00.

The worst performers of the session were Deutsche Bank easing 3.22 percent to 14.110, Commerzbank falling 2.86 percent to 10.880 and Heidelbergcement down 1.43 percent to 80.580.

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