- Title: European stock rally pauses as investors await trade details
- Date: 30th December 2019
- Summary: FRANKFURT, GERMANY (DECEMBER 30, 2019) (REUTERS) FRANKFURT STOCK EXCHANGE TRADING FLOOR BOARD SHOWING DAX OPENING DAX CURVE AT OPENING VARIOUS OF TRADERS DETAIL OF BOARD SHOWING OPENING AT 13304,43 POINTS DETAIL OF BOARD SHOWING INDEX CHANGING RATE VARIOUS OF TRADERS DETAIL OF BOARD SHOWING DAX HIGH OF 13316,62 POINTS AT 0803GMT AND LOW OF 13276,65 AT 0810GMT TRADER HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, TALKING TO TRADER (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Not much is going to happen on the last trading day in 2019. The profit was already made and it was a good year, so that is why nobody is really up for trading anymore." DAX CURVE VARIOUS OF TRADER (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "2019 was a very good year. When it comes to the stock exchange, the main reason was the monetary policy which in a situation of crisis has massively widened. There are no interest rates anymore, we live in a world without interest rates, capitalism without interest rates. That, of course, pushes money into the clearest alternative, which is the stocks market. The trading wars seem a bit pacified, and that also helps an export country like Germany, of course, and its stocks." VARIOUS OF BOARD SHOWING MARKET SHARES AND PRICES (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "I don't expect any crash next year. There are many apocalypse riders and destruction prophets who want to sell their books. But it is going to be a year of ups and downs. We are not crisis-free, we still have trading difficulties - as we had before - and we still don't know what (U.S. President Donald) Trump is going to do with Europe. We also don't know what the geo-political situation will be globally, Brexit, but I think it will be a more or less solid year. Or let's put it differently: I think the glass is half full." SIGN READING (German): "FRANKFURT STOCK EXCHANGE" VARIOUS OF TRADERS FRANKFURT STOCK EXCHANGE TRADING FLOOR
- Embargoed: 13th January 2020 09:12
- Keywords: DAX Frankfurt New Year Stock Exchange traders
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA001BC62KY5
- Aspect Ratio: 16:9
- Story Text: European shares fell on Monday (December 30) after a record-setting run that was fuelled by easing fears of a global recession and optimism around a U.S.-China trade truce, with investors now looking for concrete details on the Phase 1 agreement.
The pan-European STOXX 600 index was down 0.3% at 0818 GMT, after striking a record closing high on Friday (December 27).
Health care and utilities - commonly considered defensive stocks - led declines among the major subsectors.
In Frankfurt, analyst Robert Halver of Baader bank said trading remained thin before the New Year's holidays and was not expected to pick up until next week.
For 2020, he predicted a year of "ups and downs", citing uncertainty around U.S. President Donald Trump's trade war and the outcome of Brexit.
European stock markets have followed their global counterparts higher in December as investors cheered the initial Sino-U.S. trade pact.
But with just two days left until the end of the decade, few major updates are expected about the finer details of the Phase 1 deal, giving equities little motivation to move much from current levels.
(Production: Timm Reichert and Elena Gyldenkerne) - Copyright Holder: REUTERS
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