Friday, 13 October 2017

What’s next? – DAX 13.10.17

Posted by Valentine at 10:54 Labels:

DAX

The DAX futures were trading 0.08 percent higher at 12,990.0 as of 07:20 GMT on Friday, with investors awaiting key inflation data from Germany and the US.

On Thursday, attention was directed to remarks from the head of the European Central Bank, Mario Draghi, who defended the regulator’s easy money policy.

Draghi explained keeping interest rates at record-low levels despite the end of its massive bond-buying program was necessary for sustaining borrowing costs stable.

Bundesbank chief Jens Weidmann said “(low rates) must not last too long and, in an economic upturn, the monetary policy taps should be turned off in a quick and consistent manner”

The European regulator will meet in two weeks to decide on the future of monetary stimulus. Expectations are currently pointing at a reduction of monthly asset purchases.

The German benchmark closed Thursday with a 0.09 percent gain at 12,982.89. Financial services, retail and basic resources supported the index.

The best performers of the session were Deutsche Lufthansa adding 2.30 percent at 25.125, RWE rising 1.86 percent to 20.865 and Deutsche Boerse up 1.48 percent to 95.900.

The worst performers of the session were Deutsche Telekom, which dropped 1.44 percent to 15.430, Deutsche Bank falling 1.05 percent to 14.170 and Bayerische Motoren Werke easing 0.64 percent to end the session at 87.820.

Ahead in the day, Germany’s CPI will be available as of 06:00 GMT, with a 0.1 percent build seen.

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