What’s next? – DAX 26.10.17

The DAX futures were 0.33 percent into negative territory on Thursday at 13,974 points, with market participants looked ahead to the European Central Bank monetary policy meeting.

The German benchmark ended 0.46 percent or 59.78 points lower in Frankfurt at 12,953.41 points, despite the release of upbeat economic reports, with pharmaceuticals & healthcare, basic resources and utilities dragging the index to the downside.

On the data front, German business expectations for October came in at 109.1, while the current assessment rose to 124.8. In both cases, indicators were above expected values of 107.3 and 123.5 from prior month readings of 107.5 and 123.7 respectively.

In other news, the lfo Institute for Economic Research said its business climate index increased to 116.7 points in October, up from an initially forecasted 115.2 reading.

The best performers of the session were Deutsche Lufthansa, which added 3.67 percent to 27.145. Meanwhile, BASF rose 1.04 percent to close the session at 91.050, followed by Commerzbank up 0.37 percent to 12.160.

The worst performers of the session were RWE, which declined 3.19 percent to 20.620, E.ON easing 2.29 percent to 9.795 and Thyssenkrupp down 2.19 percent to 22.985.

Ahead in the session, traders will be paying attention to GfK German consumer climate for November as of 06:00 GMT, but all focus will be directed to the European Central Bank encounter, where policymakers are expected to decide the future of monetary stimulus.

ECB’s interest rate decision is due at 11:45 GMT and President Mario Draghi will offer a press conference as of 12:30 GMT. The EU regulator is likely to extend its massive asset purchase program for nine months, but reduce the volume of purchases to 30 million euro per month.

Fort Financial Services