- Title: MARKETS-STOCKS/EUROPE Germany's DAX opens higher after whirlwind week
- Date: 28th August 2015
- Summary: FRANKFURT, GERMANY (AUGUST 28, 2015) (REUTERS) TRADING FLOOR AT FRANKFURT STOCK EXCHANGE TRADER BOARD SHOWING DAX CURVE VARIOUS OF TRADERS BOARD SHOWING OPENING VALUE OF 10,335.92 POINTS VARIOUS OF TRADERS VARIOUS OF BOARD SHOWING BANK SHARES TRADER BOARDS SHOWING INDICES HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK ROBERT HALVER TALKING TO TRADERS (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The tsunami on the Asian stock markets is over for now, but there is a structural break in China. China is no longer growing at seven per cent, but at maybe four point something per cent. Furthermore we are seeing that China is very conscious that it needs the central bank to buy up shares to stabilise the situation. China has arrived at the unpleasant reality of industrialised countries." VARIOUS OF TRADER BOARD SHOWING LOW OF 10,296.69 POINTS AT 9:25 a.m. (0725 GMT) TRADERS BOARD SHOWING HIGH OF 10,336.92 POINTS AT 9:01 a.m. (0701 GMT) (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The situation remains volatile but I think we do not need to worry that anything will blow up. This week we heard that the ECB will up the ante again if it is necessary to achieve the target of two per cent inflation. We have a global problem: the club of people wanting cheap money, abundant money which will stop the problems that are there in Europe from becoming virulent." TRADERS BOARD SHOWING LOSS OF 11.89 POINTS OR 0.12 PER CENT VARIOUS OF TRADERS BOARD SHOWING DAX CURVE TRADING FLOOR
- Embargoed: 12th September 2015 13:00
- Keywords:
- Location: Germany
- Country: Germany
- Topics: General
- Reuters ID: LVA2INT14E7HTYD4GC31QHJ7SVJ5
- Aspect Ratio: 16:9
- Story Text: Germany's DAX opened up 0.2 per cent on Friday (August 28) as European shares eased back after a rollercoaster week.
After recouping losses from a bruising eight per cent correction earlier this week, markets cooled off slightly despite hopes for more easy central bank policy.
Fears of a slowdown in global economic growth have sparked big price swings across equities, currencies and commodities this week. These fears have yet to leave the market, traders and strategists said, even if loose monetary policy is expected to support stock prices.
"The tsunami on the Asian stock markets is over for now, but there is a structural break in China. China is no longer growing at seven per cent, but at maybe four point something per cent. Furthermore we are seeing that China is very conscious that it needs the central bank to buy up shares to stabilise the situation. China has arrived at the unpleasant reality of industrialised countries," head of capital market analysis at Baader Bank, Robert Halver, said.
Strategists pointed to accommodative monetary policy and pockets of value in the wake of the sell-off as reasons to expect more gains ahead. However, they added there was still uncertainty over how exactly a slowdown in China and emerging markets would hit the outlook for earnings.
"The situation remains volatile but I think we do not need to worry that anything will blow up. This week we heard that the ECB will up the ante again if it is necessary to achieve the target of two per cent inflation. We have a global problem: the club of people wanting cheap money, abundant money which will stop the problems that are there in Europe from becoming virulent," Halver said.
Some two hours into trading, the DAX stood at 10,233.36 points, down 82.26 points or 0.8 per cent. - Copyright Holder: REUTERS
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