Wednesday, 24 August 2016
Light up it comes mid-week with the Dax. Economic data send mixed signals. Simultaneously wait investors to the speech of Fed chief in Jackson Hole on Friday. Until then, it says: wait .
After a slow start, the German benchmark index developed during the morning a small plus, which he could hold out until the end of trading, more or less. The Dax was at a premium of 0.3 percent to 10,623 points from the market. Market observers spoke of below-average trading volumes. Many course eruption gave the impression as if it had been coincidental, questioned the equity strategists Helaba fixed.
“In fact, everything goes according to plan in the stock market this week,” said n-tv market expert Katja Dofel , Stockbrokers and investors were assumed that there are good signals for a decent economic growth – and there has been also. The PMIs for Europe are growing. German gross domestic product for the second quarter remained at 0.4 percent growth in the second publication.
For the euro area, there was also a bad signal to the economic development . In Belgium, the Business Climate was so strong in August no longer clouded as five years. Because of the economic interdependence of Belgium with the two largest euro area economies, Germany and France, business confidence is considered a leading indicator for the whole euro zone.
But there were other reasons for a certain restraint of the market operators. “On the one hand it is insecure because of the earthquake in Italy. This situation is unmanageable and could especially burden insurance companies that must pay for the damage,” says the n-tv market expert. On the other hand, the meeting of international central bankers stand in Jackson Hole in the Rocky Mountains in the United States. Since there might be signals for rising interest rates in the US, which went the stockbrokers of
One can the whole thing already read the foreign exchange market. Namely, there lays the dollars again. “It is normal that a currency whose interest rates are likely to rise, At length,” said Dofel. And before this rate hike to have on the stock market a little concern – “This could shares make less attractive and therefore you are traveling to this week a little more cautious on the stock exchange.”
Frankfurt: German banking stocks leading the way
The Dax closed at the end 0.3 percent higher at 10,623 points. The MDax was however 0.2 per cent lower at 21 653 meters from the market. An increase of 0.2 per cent recorded the TecDAX , which rose to 1729 points. To 0.5 percent upwards we went for the Euro Stoxx 50 , which closed at 3008 points.
In the Dax rose Commerzbank 3, 2 percent and German bank 2.3 percent. They were thus the biggest winner in the leading index. Pushed them were of the shares of the Italian bank Unicredit , which again the strongest bank shares in Europe set at 7.6 percent plus. To build Unicredit their price gains to 6.6 percent the previous day further. “We had counted yesterday with Poland News an increase of approximately 10 percent as appropriate,” said one trader. According to reports, the circles Unicredit negotiated with the Polish insurer PZU SA through a sale of its stake in Bank Pekao.
German Exchange ended up with charges of 1.1 per cent to 77.76 euros the losers list in Dax. Fundamental reasons were not known in the trade. The escape of the stock through the resistance of 80 Euro has failed. The paper is now back in the old range between 75 and 80 euros.
In the MDAX listed Südzucker with a drop of 2.6 percent to be among the worst. According to “Handelsblatt” more than 35 companies calling for the sugar cartel damages totaling about half a billion euros.
Steinhoff lost 3.7 percent. “The problems come from South Africa,” said one trader. Johannesburg was despite MDAX listing still the main market for Steinhoff. The margin fell to a four-week low against the dollar after reports about a police summons from Finance Minister Pravin Gordhan. Investors worried about a possible downgrading of the country. The pressure on the Steinhoff share came from the foreign exchange arbitrage
USA:. Lethargy on Wall Street
The closer the meeting of the most important central banker in Jackson Hole , the passive behavior of investors on Wall Street. The event will start on Thursday, but Fed President Janet Yellen speaks only on Friday. Until then, the players remain on the financial markets uncertain about the short-term interest rate policy of the Federal Reserve, which is reflected by restraint in the stock market.
Dow Jones industrial average appears to 0 , 2 percent lighter at 18.503 points. The S & amp; P 500 also lost 0.2 percent, while the Nasdaq Composite lost 0.1 percent
Movement there are at least at. selected individual stocks: La-Z-Boy crash by 11.4 percent. The furniture manufacturer has missed with its financial results the expert estimates. For the course of Exercising chandler Fitbit it’s contrast by 1.6 percent up. The US Trade Commission Fitbit acquitted of the charge of having trade secrets stolen when competitors AliphCom Jawbone .
The fashion retailers Express has for the second quarter results submitted that still failed sluggish, as the profit warning in May had had expected. send investors the tracks more than 20 percent on a downward slide. The pharmaceutical company Pfizer takes a few days to a billion takeover again a lot of money for a purchase in the hand. This time, the Group acquired the development and commercialization rights to anti-inflammatory agents and already authorized agents of the British competitor AstraZeneca. The Pfizer-rate increases by 0.1 percent
Asia. Weaker Yen inspires Japanese stocks
The Japanese equity markets have benefited from a breather national currency Yen and fixed closed. Dealers pointed also to the recent acquisition of securities by the central bank, which had acquired exchange traded funds on Monday and Tuesday. This raised hopes of more and lifted the mood on the stock markets.
The 225 values comprehensive Nikkei index closed 0.6 percent higher at 16,597 points. The broader Topix index rose 0.7 percent and stood at 1307 points.
Yen gave the dollar slightly, the US- currency cost 100.39 yen. The boosted export values. The shares of Toyota rose two percent, Nissan Papers gained even 2.7 percent. Since mid-July, the Japanese currency had gained sharply in value. A stronger yen burdened the export companies because they get fewer yen for their products sold abroad and so advised the profits under pressure.
On some other Asian stock markets took investors profits, the prices fell after. The MSCI index for Asian stocks outside Japan fell by almost 0.5 percent.
In China the stock market closed in Shanghai 0.1 percent lighter to 3086 points. “The Chinese stock markets have benefited by the Proposed referendum on United Kingdom membership of the European Union-poll in the UK of inflows, but this effect is running out,” said Francis Cheung, chief strategist for China and Hong Kong at the trading house CLSA. . In the mood the weaker oil price, which declined due to surprisingly higher US inventories
pressed raw materials: oil cheaper
On the oil market, prices slumped its recovery from back the day before. Had on Tuesday still speculation pushed prices upward, that Iran will participate in the meeting in September to stabilize oil prices, now the latest data from the American Petroleum Institute expressed (API) on prices.More about
A barrel of North Sea Brent cost in the late afternoon 49.04 US dollars, were 92 cents, or 1.8 percent less than the day before. The barrel of US light oil Type WTI was quoted at $ 46.73 1.37 Dollaer or 2.9 percent lower.
As the API announced late on Tuesday that oil stocks are increased significantly in the last week by more than 4 million barrels. The official inventory data will be communicated later in the day
Currency:. Euro back below 1.13 US dollars
The course of the Euro has dropped below 1.13 dollars and was as weak as last just over a week. In the late afternoon, the euro cost $ 1.1249. In early trade, the euro had traded just above $ 1.13. The European Central Bank set the reference rate at 1.1268 (Tuesday: 1.1339). Dollar notes
Investors in the currency market are currently awaiting a speech by the President of the US Federal Reserve, Janet Yellen, on Friday the prestigious Federal Reserve Bank conference of Jackson Hole. They hope to shed light on the future monetary policy of the Fed.