What’s next? – DAX 21.11.17

The German stock index DAX futures were higher as investors awaited fresh economic data to define a more precise course ahead.

The benchmark ended at 13,058.66 points on Monday, adding +64.93 or +0.50 percent.

Best performers of the session were Volkswagen, which added +6.65 points or +4.19 percent to 165.40, Prosiebensat rising +0.815 points or +3.22 percent at 26.110 and RWE adding +0.535 points or +2.75 percent to 19.985.

On the other side, Fresenius felt -0.520 points or -0.82 percent to 62.850, Adidas was down -1.05 or -0.57 percent at 184.75. Muench. Rueckvers. eased -0.70 or -0.37 percent to 190.10

On Monday, the German producer price index for October was in line with analysts’ expectations of a 0.3 percent m/m growth rate.

While market players did not count on high-impact economic in this week’s first session, attention was directed to a speech by ECB President Mario Draghi.

Draghi expressed confident that the many factors holding salaries steady in the region are “transitory”, reassuring the need for further monetary support.

“We continue having signs that this recovery is continuing and the pace is continuing,” Draghi said. “We are confident that we will see changes in nominal wages that will drive underlying inflation.”

Recently, the EU regulator announced a reduction of its monthly bond purchases from 60 billion euros to 30 billion euros as monetary authorities are confident in the Eurozone’s economic expansion and perspectives.

“These measures will preserve the current financing conditions and ensure the ample degree of monetary stimulus that is still necessary for a sustained return of inflation rates towards levels that are below, but close to, 2 percent.”

Fort Financial Servics