Thursday, September 01, 2016
The buoyancy in the stock market is gone: The day before the big “Job Report” awaken US data cast new doubts. The German benchmark cancels his hopeful upward movement. Some progress has been made on Wall Street.
The first trading day in September ending the German stock market with mixed signals: the DAX benchmark index was under the impression weak US data his newfound confidence and fell significantly in the late afternoon into the red. To close, the Dax listed 0.55 percent lower at 10,534 points. The daily high was labeled early 10676.32 points, the day’s low at 10,492.29 points
A clear downward trend could not be recognized. The MDax of midsize businesses held for a day before the official government report on the situation in the US labor market robust 0.26 percent higher at 21,452 points. The development of the labor market plays an important role for monetary policy in the US. The so-called “Job Report”, states could clues to the timing of the next rate hike by the US Federal Reserve supply – and thus indirectly also move the German stock market. The technology index TecDAX moved against this background by 0.32 percent to 1732 points ahead.
Weak signals from the United States
For a cold shower in Dax made the afternoon the release of fresh economic data from the USA: the US industry has fallen in August surprisingly under the growth threshold. In Frankfurt the Dax responded shortly after 16:00 with a sharp price drop. At the same time the euro rate moved significantly, whereby the medium can impair the prospects of German exporters outside the euro zone.
According to the Institute for Supply Management (ISM), the national index of purchasing managers in the manufacturing sector fell to 49.4 Points. Economists had predicted only a slight decline to 52.0 after had fallen in the previous month the acclaimed index already to 52.6 meters.
The barometer is thus branded as 50 meters, from the shrinkage US industry is signaled. The index is considered a reliable leading indicator of economic activity in the United States. The highly publicized sub-indices for new orders and employment both abandoned by particularly strong, the index for the jobs, which fell below the critical 50-point mark. Also, the production index fell below that mark. The sub-index of the prices recorded a slight decline. Although the recently published survey of IHS Markit Institute had also decreased from, but the PMI was clearly remained with 52.0 points in the growth area
Born and the Dax was supported at the reporting of a major bank. The shares of Commerzbank gained in the wake of sensational merger speculation the previous day another 2.2 percent. At times, the titles had increased by up to 6 percent in early trading. The title of the Deutsche Bank listed at close nearly 1 percent lower. Here made speculation about new austerity measures the round. “It’s not as if someone with a fusion counted immediately,” said one trader. “But the need in the industry is there, and there will have to mergers.”
The tips of the two financial institutions to According to insiders, have explored the opportunities presented by a merger recently loose. The “summer flirt” but once done for nothing, but both were in the middle of a renovation. Analysts also see little chance for such a deal. Many market players believe that ultimately only one consolidation can save the ailing industry, which is suffering under the extremely negative interest. Because of the low share prices, the financials are also considered easy prey for a takeover.
Among the biggest losers in the German share trading were the shares of Beiersdorf , according to a sell recommendation by JP Morgan 2 lost 7 percent. The analysts had doubted in a comparative study that the Nivea maker is prepared for the challenges of the digital age. The French rival L’Oreal because they trusted simply offers more, they wrote
USA:. Lightweight Plus despite weak economic data
have surprisingly weak economic data curbed from the US stock markets. The parlous state numbers of industrial and construction fueled doubts about the growth prospects of the US economy, experts said. In addition, they created new uncertainty about the timing of the next rate hike of the Federal Reserve: signals an economic downturn could delay the increase continues. but traders talked before the labor market data on Friday returned from whom they further indications of economic development and thus the monetary policy stance of the Fed expected to.
Dow Jones index, the long remained in the red, put down a small sprint, closing 0.1 percent higher at 18,419 points. The broader S & amp; P was with 2171 points on the previous day’s level. The index of the stock market Nasdaq won 0.3 percent to 5227 points.
Fed officials have hinted that a rate hike could come yet this month. However, analysts believe that the Fed will rather wait until December. This is supported by the inflation rate, which is still below the target of two percent, and the upcoming elections in November.
In New York gave Goldman Sachs 0.8 percent, Citigroup lost 0.9 percent. Here there is for the good trade over the last weeks profit taking, experts said. Ford losing about 1.4 percent. The group had to settle for a lower in August by 8.4 percent sales in the US.
A report on an emergency meeting of the Twitter -Direktoriums contrast gave the share of online short message service lift. The papers became more expensive in active trading by 1.6 percent. CNBC reported that the Panel would consult on 8 September on the sluggish sales growth.
Energy companies such as Exxon and Chevron were the decline in oil prices to be felt. The title fell by respectively 0.6 percent
Forex:. Euro at the 1.12 dollar mark
Euro price moved to disappointing US industry data. For US close of trading, the euro was trading at 1.1201 US dollars. Before the release of the data, the euro exchange rate had written to around half a cent lower. The European Central Bank (ECB) set the reference rate in the afternoon at 1.1146 (Wednesday: 1.1132) dollar notes. The dollar cost order 0.8972 (0.8983) Euro.
The mood in the US industry had deteriorated significantly surprising in August. The much acclaimed ISM purchasing managers index fell to its lowest level since January. In addition, the important indicator had slipped below the growth threshold of 50 points. He now suggests a slight contraction in industrial production. The data dampened expectations of an early rate hike in the US.
For more information on the state of the US economy will provide the upcoming jobs report on Friday. The British pound gained substantially by strong data from the industry to all major currencies. The purchasing managers’ index for industry had risen by 5.0 points to 53.3 points. The highly regarded leading indicator is thus again above the level of before the Proposed referendum on United Kingdom membership of the European Union-vote and signaled an economic recovery.
For other major currencies, the ECB put the reference rates for one euro to 0.84050 (0.84806 ) British pound, 115.59 (115.01) yen and 1.0978 (1.0957) Swiss franc fixed. The ounce of gold was fixed in London in the afternoon with 1309.50 (1309.25) dollars. A kilogram of gold cost 37 050,00 (37 280,00) Euro
commodities. Oil prices continue to fall
Oil prices continue their downward movement continues. In support refer observers primarily to the surprisingly sharp rise in US oil inventory data from the previous day. Thus, the concerns about the rule oversupply are stronger again become the focus. A barrel of US varieties WTI is reduced in the late evening by 2.6 percent to $ 43.52. For Brent is about 2.4 percent to $ 45.77 down.
The day before the surprising increase in US oil reserves had weighed heavily on oil prices and by approximately one pushed dollar down. Inventories were increased according to the Department of Energy to 2.28 million to 525.9 million barrels. The market had expected a much smaller increase. An increase in inventories can be an indication of too high a supply or to a demand in the US and generally contaminated oil prices.
With the weakening US dollar rotates the price of Gold into positive territory and puts too easily. The ounce costs $ 1,314 in the late evening, a surcharge of 0.4 percent. Previously, it had dropped to the lowest level since the Proposed referendum on United Kingdom membership of the European Union-vote by the British on 23 June. Before employment report is expected to continue a volatile trading
Asia. Nikkei narrow in Plus
Despite surprisingly strong figures by China’s industries have mostly recorded losses, the Asian stock markets. Certainly this was not enough to convince markets. Investors had little response to the statistics, said Ayako Sera Marktstrategin from Sumitomo Mitsui Trust Bank. In addition, another leading indicator for the second largest economy gave way.
MSCI index was for the Asia / Pacific region excluding Japan to 0.2 percent. The benchmark index for the stock market Shanghai and Shenzhen even lost 0.3 percent. In Tokyo, the Nikkei occurred long in place, put in the last minutes of trading, closing the day with a gain of 0.2 percent. Dealers expect that there will be no major movements more also on Friday, as the US statistics are published after market close in Tokyo. Demand were mainly issued by banks. Traders said the Bank of Japan wanted to assess the impact of its ultra-loose monetary policy. This nourishing the hope that the monetary authorities to
aid for financial institutions could decide. Meanwhile, there is on the currency front rest, because the dollar is at 103.27 Yen at about the previous day’s level.