- Title: DAX turns down after Brexit, trade-driven rally
- Date: 14th October 2019
- Summary: FRANKFURT, GERMANY (OCTOBER 14, 2019) (REUTERS) TRADING FLOOR TRADERS DAX GRAPH GOING DOWN VARIOUS OF TRADERS OPENING ON BOARD CHANGES ON BOARD VARIOUS OF TRADERS TRADING FLOOR (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "After the hopeful message of the last weeks in terms of Brexit, war and especially trade war, relief has diminished. It's not fixed in writing, we're only speaking about possibilities, nothing else. The Syrian conflict shows once again that NATO is very crippled at the moment - not a defense alliance." LOW ON GRAPH TRADER (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Germany is in a tough spot between America and China. It doesn't want to forfeit either side. If Ms. Merkel aligns with the Chinese on Huawei, Trump won't be happy. That will raise the danger of further tariffs against Europe once again." VARIOUS OF BANK SHARES ON BOARD (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The top issue this week is the EU summit, there's the question: 'What are we going to do with the Brits?' What the current state of things is no one can say. You can throw a coin in the air and see if heads or tails is up. We don't know. Mr. Johnson wants to somehow make a deal with Europe, but Brussels won't allow a dirty deal. It comes down to whether Mr. Johnson loves his fatherland or his own future." FRANKFURT STOCK EXCHANGE TICKER VARIOUS OF TRADERS DAX GRAPH CHANGING TRADING FLOOR
- Embargoed: 28th October 2019 08:36
- Keywords: Frankfurt Stock Exchange DAX Brexit Syria U.S. tariffs Huawei China trade
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA001B12KLN1
- Aspect Ratio: 16:9
- Story Text: A three-day rally in European shares halted on Monday (October 14) as investors assessed the scale of progress from Friday's U.S.-China trade talks and worried that a Brexit withdrawal agreement was still some way off after signs of a major breakthrough.
Germany's DAX slumped almost 40 points after opening to 12,429.83 at 715 GMT.
Late on Friday, United States and China outlined the first phase of a trade deal and suspended this week's scheduled U.S. tariff hikes. But existing tariffs remain in place and officials on both sides said much more work is needed before an accord could be agreed.
Growing optimism around last week's Sino-U.S. talks and a Brexit agreement had helped the index log its best weekly performance since in February, making some retreat natural. But analysts said nerves over a slowdown in global growth and the Brexit process were still high.
(Production: Frank Simon, Tilman Blasshofer, Barbara Woolsey) - Copyright Holder: REUTERS
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