Friday, 15 September 2017

What’s next? – DAX 15.09.17

Posted by Valentine at 01:10 Labels:

DAX

The DAX futures traded 0.25 percent lower at 12,517.5 points as of 07:05 GMT on Friday, with investors worried about new developments in the Korean peninsula and as they looked ahead to further economic data in the US and Europe, as well as a meeting of the Eurogroup.

Kim Jong Un’s government fired a missile late on Thursday that flew over Japan before landing in the sea, two thousand kilometers from Hokkaido, according to media outlets.

The United Nations Security Council (UNSC) will gather on Friday as of 19:00 GMT to again discuss actions against the communist national. The meeting was called by the US and Japan.

Eurozone’s wages for the second quarter will be available as of 09:00 GMT, along with the latest trade figures. Analysts are forecasting a 21.4 billion euro trade surplus.

Ahead in the day, investors will keep an eye on US retail sales as of 12:30 GMT, industrial production at 13:15 GMT and consumer sentiment for September as of 14:00 GMT.

The German benchmark ended in 13.12 points or 0.10 percent lower in Frankfurt on Thursday at 12,540.45, with media, insurance and food & beverages pushing upwards, while utilities, consumer & cyclical and basic resources weighed on the index.

The best performers of the session were Continental adding 2.10 percent to 204.20, Allianz rising 0.46 percent to 185.00 and BMW up 0.36 percent to end at 84.370.

The worst performers of the session were Deutsche Boerse easing 1.73 percent to 92.620, RWE falling 1.19 percent to 20.400 and Lufthansa down by 1.08 percent to 22.460.

On Thursday, European traders focus on two relevant events: the Bank of England monetary policy meeting and a speech from Bundesbank President Jens Weidmann.

In line with expectations, the British regulator left interest rates and its stimulus program unchanged. Members of the bank’s Monetary Policy Committee voted 7-2 to leave rates at 0.25 percent. However, the idea of a rate hike in the future gained weight among policymakers.

BoE Governor Mark Carney said in a statement: "There may need to be some adjustment of interest rates in the coming months [...] Now, we'll take that decision based on the data. But yes that possibility has definitely increased."

Meanwhile, Bundesbank Weidmann explained that the ECB will continue to support its easy money program for long time, but assured that it is time to “ease up on the accelerator”.

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