Monday, 2 October 2017

What’s next? – DAX 02.10.17

Posted by Valentine at 10:39 Labels:

DAX

The DAX futures traded 1.10 percent higher at 12,829.5 points as of 04:45 GMT on Monday, with market players looking ahead to fresh economic reports later in the day.

The German index ended last week in green territory at 12,828.86, adding 0.98 percent or 124.21 points, with insurance, chemicals and basic resources contributing most gains.

On the data front, Germany’s retail sales declined 0.4 percent in August against expectations for a 0.5 percent build. The unemployment rate for September fell to 5.6 percent from a prior reading of 5.7 percent, which shows labor market conditions are improving in EU’s first economy.

The best performers of the session were E.ON adding 2.31 percent to 9.576, followed by Bayer with a 2.13 percent advance to 115.30 and Prosiebensat 1 Media up 1.98 percent to 28.835.

The worst performers were Merck, which dropped 3.28 percent to 94.12, RWE falling 0.57 percent to 19.220 and Thyssenkrupp easing 0.54 percent to 25.075.

Investors also paid attention to the latest consumer price index in the Eurozone, which fell short from expected values at a 1.5 percent growth rate.

In today’s session, attention will be directed to Markit’s manufacturing PMI indexes for September. Data will be available in Germany as of 07:55 GMT, followed by the European Union five minutes later and the United Kingdom at 08:30 GMT.

Investors will also keep an eye on the Eurozone’s unemployment rate for August and remarks from Peter Praet, Member of the Executive Board in European Central Bank.

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