Tuesday, 29 August 2017

What’s next? – DAX 29.08.17

Posted by Valentine at 13:27 Labels:

DAX

The DAX futures traded 1.64 percent lower at 11,934.0 points as of 08:40 GMT on Tuesday, with sentiment under pressure due to increasing geopolitical tensions in the Korean peninsula.

Earlier in the day, North Korea launched a ballistic missile that crossed Japan before breaking into pieces and falling into the Pacific Ocean. The missile flew 15 minutes, covering a total distance of 2,700 kilometers. It was fired from a city near Pyongyang.

Japan Prime Minister Shinzo Abe called for an emergency meeting of the UN Security Council to strengthen measures against North Korea. President Trump expressed his support to Abe.

As the meeting will be held later in the day, we expect a day of light trading volumes as traders are likely to remain on the safe-haven side, promoting demand for assets such as bonds, gold, the Japanese yen and the Swiss franc.

The German benchmark settled in red territory on Monday, easing 0.37 percent in Frankfurt, with insurance, construction and consumer & cyclical sectors dragging it downwards.

The best performers of the session were Infineon Technologies, which added 0.39 percent to 19.220, E.ON rising 0.29 percent to 9.483 and Thyssenkrupp up 0.28 percent at 25.255.

The worst performers of the session were Linde, down 1.36 percent to 162.60, followed by Adidas easing 1.28 percent to 185.30 and Deutsche Boerse falling 1.20 percent to 89.540.

The GfK German consumer climate for September came in above expectations at 10.9, against a forecasted reading of 10.8. Ahead in the session, US S&P/CS HPI Composite 20 n.s.a is due for release at 13:00 GMT, while CB consumer confidence for August is up at 14:00 GMT.

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