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Tuesday, 5 September 2017

What’s next? – DAX 05.09.17

Posted by Anonymous at 12:51 Labels: what’s next
DAX
The DAX futures traded 0.79 percent higher at 12,201.5 points as of 09:20 GMT on Tuesday, as upbeat economic data from Germany boosted investors’ sentiment.
Earlier in the day, Germany’s services purchasing managers index (PMI) for August came in at 53.5, above an estimated reading of 53.4, according to Markit Economics.
In the euro zone, the Markit composite PMI for August moved to 55.7, while the services PMI stood at 54.7. In both cases below expected values of 55.8 and 54.9 respectively.
Retail sales in the euro zone fell 0.3 percent in July, compared to expectations for a 0.2 percent decline, which followed a previous month increase of 0.6 percent.
German stocks are moving upwards despite the strengthening of the euro, which is seen as a negative factor for exporters. The EURUSD was trading at 1.1881 by the time of this writing.
On Monday, the German benchmark ended 0.33 percent lower as food & beverages, utilities and basic resources gave up previous session gains.
The index came under pressure as rising geopolitical tensions in the Korean peninsula weighed on market sentiment. A meeting of the UN Security Council was held on Monday, where US Ambassador Nikki Haley assured North Korea is currently “begging for war”.
The best performers of the session were Continental, which added 0.61 percent to 191.10, Siemens rising 0.45 percent to 111.25 and Prosiebensat 1 up 0.43 percent to 27.920.
The worst performers of the session were RWE, which dropped 1.43 percent to 20.690. Thyssenkrupp fell 1.34 percent to 25.055 and Fresenius down 1.05 percent to 70.550.
Ahead this week, investors will be paying close attention to the next monetary policy meeting of the European Central Bank and most importantly, to the statement of ECB Pres. Mario Draghi.
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