Tuesday, 24 October 2017

What’s next? – DAX 24.10.17

Posted by Anonymous at 11:15 Labels:

The DAX futures were 0.02 percent into red territory on Tuesday at 12,976 points, with market participants looking ahead to activity indexes from Germany and the Eurozone later in the day.

Markit Economics will release Germany’s manufacturing and services PMI indexes for October as of 07:30 GMT, with readings of 60.2 and 55.6 points seen respectively.

In the Eurozone, manufacturing and composite PMI indexes will be available at 08:00 GMT. Analysts are currently pointing at 57.8 and 56.5 for October. The services PMI is due one hour later, with a 55.6 reading eyed. No relevant economic reports were presented on Monday.

European markets were mostly higher on Monday, but gains were capped by the end of the session as concerns over the political crisis between Spain and Catalonia continued to weigh on sentiment. However, a weaker euro provided some support to shares of exporters.

Attention remains on Thursday’s European Central Bank monetary policy meeting. The regulator will unveil its latest policy decision at 11:45 GMT and forty five minutes later ECB President Mario Draghi will offer a press conference.

On Monday, the Bundesbank said in its monthly report that the German economy is expected to expand further in the third quarter on the back of industrial components.

In other news, preliminary data from the European Commission showed that consumer confidence within the Eurozone has strengthened in October to its highest point in 16 years.

The pan-European Stoxx Europe 600 index rose 0.16 percent in the session, while the Euro Stoxx 50 index added 0.08 percent. The DAX ended with a 0.09 percent gain at 13,003.14.

The best performers of the session were Linde AG O.N., adding 2.29 percent to 183.05, Infineon Technologies AG NA O.N. rising 1.20 percent to 22.735 and Deutsche Lufthansa AG up 0.93 percent to 25.960.

The worst performers of the session were Commerzbank AG O.N., which dropped 1.64 percent to 11.425, Prosiebensat 1 Media AG falling 1.61 percent to 29.650 and Vonovia SE posting a 1.54 percent loss to close at 36.88.

No comments :

Post a comment

Subscribe to: Post Comments ( Atom )