The collective bargaining for the 16,000 employees of the ailing department store chain Karstadt continue. Meanwhile comes to light: None of closing next year branches must make tight, because it makes losses
Live from the floor of the Frankfurt Stock Exchange. ” / strong>
Dax Completes Public week in negative territory
18.15 Clock: to the strong rally from Ascension could not connect the Dax on Friday. Disappointing US economic data sent the blue-chip index after a first friendly start to decline. At the same time the Euro was up. At the end of the Dax was at a discount of 0.98 percent to 11,447.03 points of the trade, continuing the downward trend prevailing since mid-April. During the week he posted a decline of 2.2 percent.
The MDAX closed on Friday with 20602.57 points just in positive territory. The TecDax was traveling at plus 0.04 percent to 1669.30 points hardly budge.
The fact that the mood in the US industry was recently less well than hoped, had the Dax initially left largely cold. But then came the next blow to the neck in the form of weak consumer confidence data from the University of Michigan, this made the stock market mood also experienced a sharp setback.
“The image of the past few weeks, more and more confirmed: the US economy has lost its way of recovery,” said analyst Andreas Paciorek of CMC Markets. Thus, although Space out a rate hike by the US Federal Reserve further back, what had always been a selling point in the past, but currently are investors positive signals from the economy rather than the increasingly wearing off monetary stimulus. “The claim of the market has moved on this point.”
In addition, the re-weak US data weighed on the dollar and thus ensured for a renewed rise in the euro to 1.14 dollars. In the evening he was traded at $ 1.1440.
Corporate side, the messages were sown for weekly closing thin: For the German Bank subsidiary Postbank there is reportedly a first serious buyers: The Austrian BAWAG review the purchase of the Bonn Institute, told “Welt Online”. According to information of “Manager Magazin Online”, the institute is willing to pay up to 4.5 billion euros. Shares of Deutsche Bank fell by 0.36 per cent below average.
The shares of ThyssenKrupp forfeited with a loss of 1.69 percent a part of their previous day’s sharp gains a. On Thursday speculation about EU punitive tariffs on some steel imports had lent the shares of domestic steel companies tailwind.
On the German bond market, the yield on listed Federal securities fell from 0.60 percent the previous day to 0.53 percent. The bond index rose by 0.24 percent to Rex 138.34 points. The Bund futures moved 0.59 per cent before to 153.79 points.
First bidders for Postbank comes from Austria
16.10 Clock: For the German Bank subsidiary Postbank there is reportedly a first serious buyers: The Austrian BAWAG review the purchase of the Bonn Institute and have signaled to Deutsche Bank interest, reported “online world” on Friday. According to information of “Manager Magazin Online” (Friday) is the Vienna Institute willing to pay up to 4.5 billion euros for Postbank . The US financial investor Cerberus BAWAG main owner had deposited his interest in Frankfurt.
The German bank had announced the end of April, to want to part with the Postbank. The aim is an IPO, the Board had also made clear that any bids would be examined.
A spokesman for Deutsche Bank declined to comment on the reports on the alleged BAWAG interest on Friday. He referred to the statement by the Dax Group of the end of April: “The bank plans to bring the Postbank back to the stock exchange and expects the deconsolidation of Deutsche Bank by the end of 2016.”
slush fund at Lufthansa stake Sun Express
15.27 Clock: Located in the conversion threatens Lufthansa trouble with the joint venture Sun Express. After “mirror” information should have been conducted at the holiday airline, Lufthansa operates jointly with Turkish Airlines, for years a slush fund. Sun Express is to take in the new low-cost platform Euro Wings autumn for Lufthansa long-haul flights.
A Lufthansa spokesman said on Friday last year Notes to the accounting for Sun Express in Turkey had become known. Thereupon, Lufthansa and Turkish Airlines have carried out a joint audit. Sun Express reimbursed accordingly to voluntary disclosure and taxed income for three of a total of almost twelve years.
According to the report, the slush fund to have been performed on more than ten years and released in late 2012. She was fed according to findings from an internal investigation, among other things from the sale of employee tickets, as the “Spiegel” reported previously. It was used accordingly for example to pay for visa fees.
Sun Express was founded in October 1989 as a joint venture of Turkish Airlines and Lufthansa. Today, the airline transported claims to more than 7 million passengers a year.
15.18 Clock: With the strong rally from the Ascension of Dax has first fired his powder. The hoped by stockbrokers outbreak since mid-April from the prevailing downtrend failed the German benchmark index on Friday until the afternoon.
Finally, the Dax was still 0.04 percent higher at 11,564.27 points, having still a good half a percentage point had its previous day’s gains in the meantime be able to expand. ,
Dax continues to recover, thanks to falling euro
13.54 Clock: The German stock market to a more conciliatory week ending apparent. The Dax tied on Friday to its previous day’s rally and rose by midday by 0.52 percent to 11 620.15 points. In weekly view, the stock market barometer is now just 0.77 percent back after it had gone to the top of more than 4 percent down.
Positive signals came from the foreign exchange market: There, the euro gave some of its recent gains again. The strong euro had the Dax charged repeatedly in recent weeks. Because if the euro rises, German goods outside the euro zone are more expensive.
For the index of medium-sized values MDax it went on Friday by 0.76 percent to 20 734.34 points up and the TecDax of technology stocks rose by 0.57 percent to 1678.11 points. The Euro Stoxx 50 index of the euro zone as winning more than half a percent.
collective talks at Karstadt continue
12.06 Clock: The collective bargaining for employees of the ailing department store chain Karstadt have continued on Friday. In the eighth round was already back with “difficult conversations” can be expected until the evening, said a spokeswoman for the union Verdi. Strikers from several Hessian Karstadt stores to visit on Friday “with spontaneous interest” the negotiated hotel in Frankfurt am Main, informed Verdi. Karstadt employs around 16,000 people.
Verdi calls for job and location guarantee for the Karstadt stores. This applies for all homes – even for the five sites Recklinghausen, Bottrop, Dessau, Neumünster and Mönchengladbach-Rheydt, whose closure the management had announced this week. The company refers to the years against negative sales and earnings development of the sites. The union also calls for an immediate return of the company in the collective bargaining coverage and new investments in the houses.
None of closing next year five Karstadt stores is one of the biggest loss-makers of the ailing Essen Department Store Group. The reports of the Focus, citing corporate circles. Although the homes are located in Neumünster, Dessau, Bottrop, Recklinghausen Mönchengladbach and therefore on the drawn up in late 2014 List of 23 Karstadt branches with a negative EBITDA (earnings before interest, taxes, depreciation and amortization). In the top ten “Minus stores” Do not immerse these locations according to Focus on but.
Obviously, however, the overall environment of the sites is so bad that the management at Karstadt boss Stephan Fanderl no more chance to improve the economic situation of Housing looks. As Focus continues to write, the other so-called C-stores maintain high closing costs, or the prospect of a change for the better so far in front of the corner. Biggest loss-making in the Karstadt group was 2013, the department store in Dusseldorf, which made six million euros Lousy under trich.
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