- Title: Dax starts Christmas week almost unchanged
- Date: 23rd December 2019
- Summary: FRANKFURT, GERMANY (DECEMBER 23, 2019) (REUTERS) TOY BULLS ON TOP OF SIGN FOR STOCK EXCHANGE TRADER ELECTRONIC BOARD SHOWING DAX ON PREVIOUS DAY TRADER ELECTRONIC BOARD SHOWING BANKING SHARES TRADER ELECTRONIC BOARD SHOWING TRANSPORTATION SHARES TRADER ELECTRONIC BOARD SHOWING DAX GRAPH AND SHARE PRICES ELECTRONIC BOARD SHOWING CHANGES IN DAX VARIOUS OF TRADER (SOUNDBITE) (German) TRADER WITH ICF BANK, ARTHUR BRUNNER, SAYING: "We are at the final sprint right now. Only few data is expected, albeit important ones: We expect still today from the U.S. the durable commodities, and on Friday the retail figures from Germany. Those could move the Dax a bit. However, most of the books are closed already for the year. So, we don't expect any major turnover." ELECTRONIC BOARD SHOWING INDUSTRIAL INDICES (SOUNDBITE) (German) TRADER WITH ICF BANK, ARTHUR BRUNNER, SAYING: "The Dax started almost unchanged, if anything slightly higher into this week. Trader is very slight. Bayer is today on top of the positive shares. The support of the U.S. government in the battle about Glyphosat is expected. But the revenue is rather slim altogether." ELECTRONIC BOARD SHOWING DAX GRAPH (SOUNDBITE) (German) TRADER WITH ICF BANK, ARTHUR BRUNNER, SAYING: "One the one hand side a defusing of the situation is wanted, on the other hand there are our own interests. There is the threat of a swine fever outbreak in China, so they are rather lenient with import duties on pork meat. And also, technical products and preliminary products for the production of iPhones for instance are also affected. So, I believe that China has its own interests at heart." VARIOUS OF TRADERS FLOOR AT FRANKFURT STOCK EXCHANGE
- Embargoed: 6th January 2020 09:47
- Keywords: Bayer Dax Glyphosat retail figures Germany trade trade conflict China
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA001BB757KD
- Aspect Ratio: 16:9
- Story Text: Trade-sensitive German shares were nearly flat on Monday (December 23), as trading thinned ahead of the Christmas and Boxing Day holidays later in the week. After choppy trading earlier in the year, the index has gained steadily since September as the outlook around the Sino-U.S. trade war cleared up.
The Dax started the week 0.1% lower at 13,304 points. With an overall plus of 26% since the beginning of January the Dax was heading for the biggest annual gain since 2012.
The pan-European STOXX 600 index was down 0.1% at 0814 GMT, with the banking sector leading declines.
An improving outlook on the global economy and optimism around a smoother Brexit had sent European equities to an all-time high last week, with the benchmark index logging its biggest weekly gain in two months.
But with an initial U.S.-China trade deal unlikely to be signed this year, and British Prime Minister Boris Johnson's willingness to take a hard line on future Brexit negotiations, analysts said stocks had little reason to move much from current levels.
Lufthansa dropped 1% after German cabin crew union UFO said arbitration talks with the company had failed and its members could stage strikes any time from now on, barring Dec. 24, 25 and 26.
(Production: Hakan Erdem, Ute Swart)
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