Monday, 28 August 2017

What’s next? – DAX 28.08.17

Posted by Valentine at 13:31 Labels:

DAX

The DAX futures traded 0.66 percent lower at 12,092.5 points as of 09:20 GMT on Monday, as a strong euro weighed on exporters, while investors prepared for a fresh round of Brexit talks.

Formal Brexit negotiations are expected to resume in Brussels later in the day. Brexit Secretary David Davis is calling for more “flexibility and imagination” from the EU negotiators.

EU representatives said progress should be made in areas such as citizens’ rights and financial issues before moving on with other issues.

No relevant economic reports are due for today. On Friday, a revision on the German second-quarter gross domestic product came in line with analysts expectations at 0.8 percent year-over-year and 0.6 percent month-over-month.

The lFO business climate index for August surpassed expectations at 115.9, while current assessment fell short from a forecasted reading of 125.0.

The euro rose a 2-½-year high following the speech of European Central Bank President Mario Draghi at the Jackson Hole symposium in Wyoming, United States.

As anticipated, ECB chief opted not to speak on policy changes for the euro zone, and focus his speech on the topic of the event.

The German benchmark ended 0.11 percent lower on Friday in Frankfurt, with media, technology and basic resources rising while telecoms and transportation weighed on the index.

The best performers of the session were Deutsche Boerse, which added 1.26 percent to 90.630, followed by Bayer rising 1.21 percent to 109.00 and RWE up 1.18 percent to 21.040.

The worst performers of the session were Deutsche Post easing 0.87 percent to 34.730, Linde down 0.81 percent to 164.85 and Siemens falling 0.72 percent to end at 110.85.

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