- Title: Stocks inch higher in holiday lull
- Date: 27th December 2016
- Summary: FRANKFURT, GERMANY (DECEMBER 27, 2016) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE EUROPEAN UNION FLAG FLYING OUTSIDE VARIOUS OF TRADERS ON FLOOR DAX BOARD BOARD SHOWING DAX INCREASE OF 17.89 POINTS OR 0.16 PERCENT TRADERS / DAX BOARD ARTHUR BRUNNER, BOND TRADER WITH ICF KURSMAKLER AG, WORKING ON COMPUTER HIGH SHOT OF FLOOR (SOUNDBITE) (German) BOND TRADER, ICF KURSMAKLER AG, ARTHUR BRUNNER, SAYING: "You could say that the DAX is in a kind of hibernation. There is virtually no change to last Friday (last trading day before Christmas break). Also, there is no news and we don't expect any announcements during this shortened trading week. The news from Italy is rather good where the state is after all going to rescue Monte dei Paschi bank. Otherwise, no news is expected." DAX CURVE TRADER WALKING ON FLOOR (SOUNDBITE) (German) BOND TRADER, ICF KURSMAKLER AG, ARTHUR BRUNNER, SAYING: "Next year is probably not going to be as easy as expected. There are several problems such as the banking problem in Italy which could affect the entire euro zone and put it at risk because there are distortions. The TARGET2 (EU cross-border payment system) in the euro system is at a record high again. The emerging market countries suffered considerably last year so quite a lot could happen but domestic growth is looking very good." VARIOUS OF BANK SHARES ON BOARD TRADER TOP SHOT OF FLOOR TRADER DAX CURVE TOP SHOT OF FLOOR
- Embargoed: 11th January 2017 11:20
- Keywords: Germany DAX stocks Christmas
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA0015ENRMA5
- Aspect Ratio: 16:9
- Story Text: European and Asian share prices inched higher on Tuesday (December 27) as trading in some of the world's major financial markets resumed after a Christmas break, with oil and the dollar also rising marginally.
Germany's DAX and France's CAC 40 both gained around 0.1 percent while Spain's IBEX dipped by a similar amount. British markets were closed for a holiday, along with those in Australia, New Zealand and Hong Kong.
In Frankfurt, the DAX remained virtually unchanged during the first three hours of trading, hovering around 11,460 points.
"You could say that the DAX is in a kind of hibernation," said bond trader Arthur Brunner of ICF Kursmakler AG.
"There is virtually no change to last Friday," Brunner added, referring to the last trading day before the Christmas break.
Concerns about Italian banks, Chinese growth and U.S. President-elect Donald Trump's protectionist bent look set to keep investors on edge into the start of 2017.
"Next year is probably not going to be as easy as expected," said Brunner.
"There are several problems such as the banking problem in Italy which could affect the entire euro zone and put it at risk because there are distortions."
The Italian government is likely to have to put in around 6.5 billion euros ($6.79 billion) to rescue Monte dei Paschi di Siena, three sources close to the matter said on Tuesday.
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