Wednesday, 13 September 2017

What’s next? – DAX 13.09.17

Posted by Anonymous at 11:39 Labels:

DAX

The DAX futures traded 0.24 percent lower at 12,493.5 points as of 07:10 GMT on Wednesday, with investors turning their heads to fresh economic reports scheduled in the day.

In today’s session, traders will be paying attention to Germany’s CPI for August, with a 0.1 percent build eyed. Also, the Eurozone is due to release industrial production figures for July.

In the American session, investors will follow the producer price index (PPI) for August as of 12:30 GMT, with a 0.3 percent build eyed and the Federal Budget Balance at 18:00 GMT, with a $119.5 billion deficit seen.

The German benchmark ended in green territory on Tuesday, adding 0.40 percent or 49.53 points at 12,524.77 as market sentiment continued to improve on the back of softening geopolitical concerns in the Korean peninsula.

Investors took a breather following the latest UN Security Council meeting, where a new package of economic sanctions against North Korea was approved in response to the recent nuclear test.

While the measures are designed to make a strong impact on Pyongyang’s economy, the 15-member council excluded the possibility of a full oil embargo or the freezing of Kim Jong Un’s assets overseas. Russia and China played a key role to erase those points from the resolution.

Chemicals, transportation and basic resources pushed German stocks to the upside on Tuesday, while consumer & cyclical, food & beverages and utilities managed to cap gains.

The best performers of the session were Deutsche Bank rising 3.57 percent to 14.200, followed by Commerzbank with a 2.90 percent to 10.805 and Volkswagen up 1.95 percent to 135.60.

The worst performers of the session were RWE, which dropped 2.79 percent to 20.920, E.ON easing 2.06 percent to 9.445 and Henkel & Co down 1.10 percent to 117.30.

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