Thursday, 14 September 2017

What’s next? – DAX 14.09.17

Posted by Valentine at 11:16 Labels:

DAX

The DAX futures traded 0.25 percent lower at 12,529.0 points as of 07:05 GMT on Thursday. European traders are keeping an eye on the Bank of England’s monetary policy statement later in the day, as well as a speech from Bundesbank President Jens Weidmann.

There are no relevant economic reports scheduled in Germany. However, investors will be carefully monitoring the release of consumer inflation data in the United States at 12:30 GMT.

The Bank of England is expected to leave the current interest rates and quantitative easing program unchanged, although market players will analyze Governor Mark Carney’s rhetoric. His remarks are to be heard as of 11:00 GMT, once the monetary meeting is finished.

Bundesbank President Jens Weidmann will speak at 15:30 GMT. As he is an active member of the European Central Bank, his comments could have strong impact on expectations for monetary policy changes in the near future.

On Wednesday, Germany’s equity index DAX ended 0.23 percent or 28.80 points higher at 12,553.57, with pharmaceuticals & healthcare, industrials and software sectors moving up while telecoms, utilities and basic resources capped daily gains.

The best performers of the session were Merck KGaA , which added 1.97 percent to 97.99, followed by Siemens with a 1.17 percent gain to 116.90 and Deutsche Post rising 1.07 percent to end the session at 36.450.

The worst performers of the session were E.ON, which fell 1.54 percent to 9.300, Thyssenkrupp easing 1.52 percent to 26.295 and RWE down 1.31 percent to 20.645.

In the previous session, Germany’s consumer price index for August came in aligned with expectations of a 0.1 percent advance, matching a previous month 0.1 percent build.

The Eurozone reported a 0.1 percent expansion of its industrial production activity for July, also in line with forecast, correcting a prior month 0.6 percent decline.

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