- Title: MARKETS-STOCKS/EUROPE German shares jump back up as traders regain confidence
- Date: 27th August 2015
- Summary: FRANKFURT, GERMANY (AUGUST 27, 2015) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE TRADING FLOOR TRADERS BOARD SHOWING DAX GRAPH TRADERS BOARD SHOWING FIRST VALUE OF DAX VARIOUS OF TRADERS VARIOUS OF BANKING STOCKS VARIOUS OF TRADERS BOARD SHOWING INDICES (SOUNDBITE) (German) HEAD TRADER AT ODDO SEYDLER BANK AG, OLIVER ROTH, SAYING: "There is definitely some breathing space now. In the last few days we have exaggerated on the financial markets or we saw exaggerations. We will surely now stabilise things, come back down to earth and then we will have to look more closely at what happened because the Chinese markets are definitely a bit shaky regarding the economy but they are not as weak as we at times thought. There have been clear exaggerations but now the markets are stabilising." VARIOUS OF TRADERS DAILY HIGHEST STAND OF DAX (SOUNDBITE) (German) HEAD TRADER AT ODDO SEYDLER BANK AG, OLIVER ROTH, SAYING: "The DAX has stabilised again. The crisis in China is certainly not over yet but we have to look very closely to see what kind of an effect it has had on the world economy. It is not exactly clear and so we will have to take a very close look and analyze it. But the financial markets have stabilised again for now." BOARD SHOWING DAX UP 2.82 PERCENT VARIOUS OF TRADERS BOARD SHOWING DAX GRAPH TRADING FLOOR
- Embargoed: 11th September 2015 13:00
- Keywords:
- Location: Germany
- Country: Germany
- Topics: General
- Reuters ID: LVA55QXL862R5NFDOD0NQ7RQ932U
- Aspect Ratio: 16:9
- Story Text: German shares rose on Thursday (August 27), buoyed by gains on Asian and U.S. markets with one trader in Frankfurt saying investors now have time for some "breathing space".
Germany's DAX index was up 3.3 percent at 0910GMT to 10,326 points.
Persistent fears about an economic slowdown in China, which intensified after China devalued its yuan currency earlier in August, have rattled financial markets this month, causing major slumps across the board.
But one trader in Frankfurt said it was now time to look more closely at the causes of the recent crash.
"In the last few days we have exaggerated on the financial markets or we saw exaggerations. We will surely now stabilise things, come back down to earth and then we will have to look more closely at what happened because the Chinese markets are definitely a bit shaky regarding the economy but they are not as weak as we at times thought. There have been clear exaggerations but now the markets are stabilising," said Oliver Roth, a head trader at Oddo Seydler Bank AG.
Wall Street racked up its biggest one-day gain in four years on Wednesday (August 26) after New York Fed President William Dudley said the likelihood of a September rate hike "seems less compelling" than it was only weeks ago, in a sign that China's woes could affect U.S. monetary policy. - Copyright Holder: REUTERS
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