What’s next? – DAX 22.11.17

The German stock index DAX futures were higher in early trading hours on Wednesday despite European soil has no data scheduled in the session ahead.

The benchmark posted a 0.83 percent or 108.88 points gain on Tuesday to end at 13,167.54 points in Frankfurt, finding support in the technology, media and basic resources sectors.

The best performers of the session were Infineon Technologies, which added 3.29 percent or 0.805 points to 25.280. Volkswagen rose 3.02 percent or 5.00 points to finish at 170.40, while Bayerische Motoren Werke gained 1.88 percent or 1.600 points to end at 86.780.

The worst performers of the session were Heidelbergcement, which dropped 1.94 percent or 1.800 points to 91.170. RWE was down 1.93 percent or 0.385 points to 19.600 and Commerzbank declined 1.25 percent or 0.155 points to finish the day at 12.215.

Tuesday’s session was not rich in data, but investors counted on interesting declarations by Benoit Coeure, board member of the European Central Bank.

Coeure told a German newspaper that he expects the European regulator to abandon its support to the bond buying programme next September under the condition inflation meets its target.

“We were not ready to make that change in October, but I expect it will come at some point between now and September 2018,” said Coeure during an interview.

The DAX is expected to hold at current levels as no catalysts are up in the European markets. The data front in Germany and the Eurozone are empty for the day and focus will shift to the US.

Fort Financial Services