MARKETS-STOCKS/EUROPE European shares bounce back, Germany's DAX up one percent

Record ID: 141622

  • Title: MARKETS-STOCKS/EUROPE European shares bounce back, Germany's DAX up one percent
  • Date: 7th September 2015
  • Summary: FRANKFURT, GERMANY (SEPTEMBER 7, 2015) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE VARIOUS OF TRADERS ON FLOOR (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The worst seems to be over at the Chinese stock exchange. Those investors who are allowed to sell have left. Domestic investors are not allowed to sell and the 3,000 level at the Shanghai Composite appears to be the bottom limit. It seems there is no further bad news coming from China, also because the Chinese currency has appreciated again. I don't think anyone still fears a ruinous currency depreciation." VARIOUS OF TRADING FLOOR
  • Embargoed: 22nd September 2015 13:00
  • Keywords:
  • Location: Germany
  • Country: Germany
  • Topics: General
  • Reuters ID: LVA1NYYS710GUPWHD7SX4Z8E1K1V
  • Aspect Ratio: 16:9
  • Story Text: Germany's DAX index opened at 10,148 on Monday (September 7), with one Frankfurt trader saying that "the worst seems to be over at the Chinese stock exchange".
    China's stock market reopened after closing over Thursday (September 3) and Friday (September 4) as Beijing celebrated 70 years since the end of World War Two. Shanghai shares initially rose as much as 1.8 percent following remarks over the weekend by regulators aimed at calming the market, but the index was last down 1.6 percent.
    "Those investors who are allowed to sell have left. Domestic investors are not allowed to sell and the 3,000 level at the Shanghai Composite appears to be the bottom limit. It seems there is no further bad news coming from China, also because the Chinese currency has appreciated again. I don't think anyone still fears a ruinous currency depreciation," head of capital market analysis at Baader Bank, Robert Halver, said at the Frankfurt stock exchange.
    The DAX's increase of one per cent was also helped by data showing German industrial output rose in July at its fastest pace this year, suggesting the engine room of Europe's largest economy made a robust start to the second half.
  • Copyright Holder: REUTERS
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