What’s next? – DAX 07.12.17

The German stock index DAX futures were 0.29 percent higher as of 07:25 GMT at 13,038.5 points on Thursday, with players looking ahead to key economic releases later in the day.

Today, attention will be directed to German industrial production figures for October as of 07:00 GMT (Forecast: 1.0%) and a revision of Eurozone’s gross domestic product for the third quarter at 10:00 GMT (Forecast: 0.6% m/m, 2.5% y/y).

Investors will also keep an eye on a speech by the European Central Bank President Mario Draghi due at 16:00 GMT in search for hints on the future of monetary policy in the region.

On Wednesday, ECB member Yves Mersch said the regulator should start planning the end of its bond-buying program as the current level of stimulus seems unnecessary.

“While a too quick end to the buying program could lead to excessive market reactions, we should not forget that the longer the programme lasts, [...] the greater the risks will become,” said Mersch, adding that the central bank should’ve a symmetrical approach to inflation.

The benchmark ended in Frankfurt 0.38 percent or 49.69 points lower at 12,998.85, with Consumer & Cyclical, Transportation & Logistics and Technology dragging it down.

On the data front, German factory orders increased 0.5 percent in October, outperforming an expected decline of 0.3 percent, but below a prior month advance of 1.2 percent.

The best performers of the session were Prosiebensat 1 Media, which added 2.93 percent or 0.790 points to 27.740. Deutsche Boerse rose 1.03 percent or 1.000 points at 97.900 and Adidas was up 1.01 percent or 1.80 points to 179.25.

The worst performers of the session were Volkswagen, which dropped 2.84 percent or 4.85 points to 165.90. Deutsche Post eased 2.70 percent or 1.100 points to 39.600 and Commerzbank was down 2.22 percent or 0.275 points at 12.090.

Fort Financial Services