Live from the floor of the Frankfurt Stock Exchange
After Höhenrausch: Dax does not come from the site
17.56 Clock: The Dax has paid tribute on Wednesday his latest recovery rally and is hardly come from the spot. Before the evening release of the minutes of the US Federal Reserve, the market players were practicing restraint, wrote analyst Gregory Kuhn from broker IG. Finally, the German benchmark index recorded 0.04 percent in the red at 11 848.47 points.
On Tuesday, the Dax had been linked with gains of more than 2 percent on an already strong start to the week – thanks to the announcement of the ECB to bring forward asset purchases. “After Höhenrausch yesterday sat in the stock market today, the reality check of zero-sum game of the ECB,” said market analyst Niall Delventhal from Broker DailyFX current developments.
The caution of investors went midweek in the other stock indices noticeable: the MDAX of medium values were on Wednesday by 0.25 percent to 20 983.15 meters, while the TecDax technology tracks 0, won 08 percent to 1735.73 points.
billion penalty for six major banks
16.20 Clock: Because manipulation of the foreign exchange market have six major international banks fines totaling just under six billion dollars (5.3 billion Euro) pay. The US banks Citigroup and JPMorgan Chase and the British Barclays Bank and the Royal Bank of Scotland have in this financial scandal guilty known, the US Justice Department said on Wednesday. The Bank of America and the Swiss UBS have to pay accordingly.
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Cautious investors worry before Fed protocol for any loss
14.36 Clock: After two trading days a tidy profit of Dax has its climb stopped for the moment. Before the release of the highly anticipated meeting minutes of the US Federal Reserve, the market players should probably exercise restraint, wrote analyst Gregory Kuhn from broker IG. The German index slipped to Wednesday noon to 0.41 percent to 11 804.15 points from.
The index of medium-sized values MDAX was last 0.39 percent to 20 954.00 points. The TecDax of technology stocks lost 0.42 percent to 1726.99 points. Even in Europe it went down slightly: The Euro Stoxx 50 stood as a key index of the euro zone last 0.30 percent lower.
After a strong start to the week already the Dax had dressed the day before by more than 2 percent after the ECB had announced preferred bond purchases. Observers declared on Wednesday the market now rule but some nervousness before the evening upcoming release of the minutes from the meeting of the Federal Open Market Committee (FOMC). This could provide guidance in terms of rate hike.
Dax takes a breath - investors await Fed
09.39 Clock: The Dax on Wednesday after two days of trading with clear gains initially taken a break , The German index lost in the first few minutes after the market launch 0.17 percent to 11 833.08 points.
observers declared the market rule some nervousness before the upcoming meeting in the evening Protocol Federal Open Market Committee of the US Federal Reserve. This could give hints about interest rate increase. Experts expect considering last poor US economic data that have become now more of a subsequent turnaround in interest rates.
The index of medium-sized values MDAX lost 0.24 percent to 20 985.68 points. The TecDax of technology stocks could, however, somewhat against the trend and lift moved by 0.15 percent to 1736.97 points ahead. Even in Europe it went down slightly: The Euro Stoxx 50 fell as the benchmark index of the euro zone to 0.09 percent.
René Benko offers 2.9 billion euros for Kaufhof chain
08.35 Clock: Karstadt owner René Benko has apparently launched a second attempt, the department store Kaufhof chain to take over. According to information of the newspaper "Handelsblatt", the Austrian has 2.9 billion euros for the Metro subsidiary.
It follows that Benkos company Signa Retail finished reviewing the books at Kaufhof and submitted a written offer, the dreams of the Metro Board in early May discussed.
Benko years from Germany AG, a dominant department store chain. Therefore he undertook already to take several attempts Kaufhof. So far, however, he failed, according to "Handelsblatt" on the uncertain financing or the price. In recent years, Benko had commanded from 2.05 to 2.4 billion euros.
The now offered 2.9 billion euros is likely to be to the liking of the metro and after the Metro shareholder Haniel. The department store business is the corporations slowly too hot. A viable exit route would be welcome in Dusseldorf. Even experts consider the merger of Karstadt and Kaufhof for a good strategy to save both troubled companies.
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