Tuesday, 10 October 2017
What’s next? – DAX 10.10.17
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what’s next
DAX
The DAX futures were trading 0.19 percent lower at 12,944.0 as of 07:15 GMT on Tuesday, despite upbeat data from Europe’s first economy.
Earlier in the session, Germany’s trade balance showed a surplus of 21.6 billion euro, outperforming an estimated 20 billion reading.
The German benchmark closed Monday with a 0.16 percent gain at 12,976.40. Utilities, Software and Consumer & Cyclical led advancers while Food & Beverages, Basic Resources and Construction weighed on the index.
In economic news, German industrial production increased 2.6 percent in August, above expectations for a 0.7 percent build and a previous month 0.1 percent decline.
In other news, ECB Executive Board member Sabine Lautenschlaeger said the European regulator should scale down its asset buying program next year.
“I think we should begin reducing our bond purchases next year, […] This should be done gradually, until we are no longer purchasing additional bonds.”
The ECB will gather on October 26 to revise the continuation of its current monetary stimulus and signals are pointing to a reduction of volume for the bond buying program.
The best performers of the session were E.ON, which added 3.06 percent or 0.288 points to 9.688. Meanwhile, RWE rose 2.73 percent or 0.530 points to close the day at 19.915 and Adidas growing 1.35 percent or 2.60 points to 195.10.
The worst performers of the session were Deutsche Bank, which dropped 2.34 percent or 0.345 points to 14.375. Thyssenkrupp were down 1.50 percent or 0.350 points to 23.015 and Linde declined 1.30 percent or 2.30 points to 175.10.
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