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Tuesday, 3 October 2017

What’s next? – DAX 03.10.17

Posted by Anonymous at 10:53 Labels: what’s next

DAX

The German DAX extended gains on Monday, closing at 12,902.65, adding 0.58 percent or 73.79 points, with pharma & healthcare, logistics and technology contributing most gains.

The best performers of the session were Deutsche Lufthansa, which added 3.45 percent to end at 24.320, followed by Infineon Technologies rising 2.94 percent to 21.895 and Adidas marking a 2.46 percent gain at 196.10.

The worst performers of the session were Thyssenkrupp, down by 1.50 percent to 24.700, Heidelbergcement declining 1.40 percent to 85.750 and Deutsche Bank easing 0.96 percent to settle at 14.490 by the closing bell.

Activity indexes were the highlights of Monday’s session. According to data, Germany’s manufacturing PMI for September came in at 60.6, meeting analysts expectations.

However, manufacturing activity in the Eurozone fell short from forecasted values at 58.1. In the United Kingdom, the manufacturing PMI also came below expectations at 55.9.

The upbeat came from the United States, as the Institute for Supply Management reported the best reading since early 2004. The ISM manufacturing PMI for September came in at 53.1, a tick up from an estimated 58.0 and a prior month reading of 58.8.

Attention in Europe was also directed to remarks from the European Central Bank (ECB) chief economist Peter Praet, who participated at a conference in London.

Praet believes calm market conditions would encourage the EU regulator to extend its quantitative easing program for a longer period, but with less spending.

“In more normal market conditions ... investors may become ‘more patient’, or, in other words, better able to evaluate the stimulus that can be expected to come from a purchase plan that is to be executed over a more extended time interval,” said the ECB executive.

No relevant data is scheduled on Tuesday.

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