- Title: Germany's DAX temporarily rallies 0.5% on Brexit deal
- Date: 17th October 2019
- Summary: FRANKFURT, GERMANY (OCTOBER 17, 2019) (REUTERS) TRADING FLOOR TRADERS DAX GRAPH GOING DOWN TRADERS VARIOUS OF BANK SHARES ON BOARD TRADER PAN ACROSS BOARD ROBERT HALVER, HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, WALKING PAST BOARD SHOWING DAX INCREASE OF 40.67 POINTS OR 0.32% (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "We have the proposal for a deal. We know that the EU summit still needs to give its approval but above all the British parliament on Saturday. The EU summit will probably approve it, but the British parliament is questionable after Johnson's coalition partner, the northern Irish DUP, said no. The opposition would also have to give its approval. If need an emergency there will be an extension but I believe it's safe to say today that the issue of a no deal on October 31, on Halloween, is off the table." VARIOUS OF TRADERS BOARD SHOWING DAX HIGH OF 12,814.49 POINTS AT 11:46 A.M. (0946 GMT) (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The danger of a no deal on October 31, on Halloween is definitely off. In an emergency there will be an extension but overall, Europe is happy again." VARIOUS OF TRADERS (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The DAX reacted relieved, not overjoyed but it was believed that some kind of deal, a dirty trick would be found once again so everyone is happy. But we also know that there are other issues like the trade war and above all a looming recession." TRADER DAX BOARD VARIOUS OF FLOOR
- Embargoed: 31st October 2019 12:53
- Keywords: brexit frankfurt stock exchange reaction DAX shares
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA001B1HKS5P
- Aspect Ratio: 16:9
- Story Text: Germany's DAX temporarily rallied 0.5% on Thursday after reports of a Brexit deal, with one Frankfurt trader saying the danger of a no deal was now off the table despite Northern Ireland's Democratic Unionist Party (DUP) saying it could not support Prime Minister Boris Johnson's agreement with the European Union.
Robert Halver of Baader bank told Reuters Television that while the DAX showed "relief" over the deal, it was not "overjoyed."
At 3:15 p.m. (1315 GMT), the DAX stood at 12,714 points, up 44 points or 0.35%.
Prime Minister Boris Johnson faces a Brexit showdown with parliament on Saturday after clinching a last-minute divorce deal with the European Union that his Northern Irish allies oppose.
In an extraordinary Saturday sitting, the first since 1982, parliament will vote on approving Johnson's deal. Britain is due to leave the EU on Oct. 31.
(Production: Andreas Buerger, Michele Sani)
- Copyright Holder: REUTERS
- Usage Terms/Restrictions: None