Tuesday, 26 September 2017

What’s next? – DAX 26.09.17

Posted by Valentine at 11:17 Labels:

DAX

The DAX futures traded 0.17 percent lower at 12,565.5 points as of 05:10 GMT on Tuesday, as investors continued to digest the results of the German Federal elections.

Angela Merkel’s conservative alliance won with 33 percent, retaining control in the parliament. However, the Chancellor will have to negotiate with other parties to form a coalition government.

Merkel expressed disappointment with the results, adding she expected better figures and promising to recover votes that went for the far-right party, which got nearly 13 percent of votes.

No relevant data is expected in Germany. Ahead in the day, traders will be focusing almost entirely on remarks from Federal Reserve Chairwoman Janet Yellen at 19:30 GMT.

Investors will be keeping an eye on her as they assess chances for a third rate hike to materialize in the near term. Fed funds tracked by CME Group’s FedWatch tool show traders are currently pricing in a 71.4 percent probability of a 25 basis points rate move by December.

The German benchmark ended at 12,594.81 in Frankfurt on Monday, adding 2.46 points or 0.02 percent, with telecoms, chemicals and healthcare pushing to the upside.

The best performers of the session were Merck, which added 2.00 percent to 98.43, Bayer rose 1.63 percent to 111.90 and Beiersdorf up 1.09 percent to 91.72.

The worst performers of the session were RWE dropping 5.31 percent to 19.15, Heidelbergcement easing 1.88 percent to 83.70 and Commerzbank down 1.78 percent to 11.03.

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