- Title: Europe kicks off August on the good foot
- Date: 2nd August 2021
- Summary: FRANKFURT, GERMANY (AUGUST 2, 2021) (REUTERS) TRADING FLOOR TRADERS AND PAN TO BOARD WITH DAX-CURVE BOARD SHOWING EARLY UPWARD DAX-CURVE TRADER FIRST OF DAX AT 15631.70 VARIOUS OF TRADERS BOARD SHOWING BANKING SHARES (SOUNDBITE) (German) DIRECTOR OF SPECIALIST FIXED INCOME AT ICF BANK, ARTHUR BRUNNER, SAYING: "At the moment, the signs are indicating an upwards trend. Today the DAX is about one percent up. The reason is good news from China. The leadership is delivering a more conciliatory stance than last week. Conciliatory signs create a more friendly mood in the stock exchanges." VARIOUS OF TRADERS BOARD SHOWING DAX HIGH AT 15702.89 AT 09:10 VARIOUS OF TRADERS (SOUNDBITE) (German) DIRECTOR OF SPECIALIST FIXED INCOME AT ICF BANK, ARTHUR BRUNNER, SAYING: "Vonovia is not giving up. Vonovia has made a slightly improved offer for Deutsche Wohnen. A new attempt. Of course the BaFin-approval is still pending, we need to wait and see here. Another topic today is Allianz under strong pressure because investigations in the U.S. against itÂ´s US fund subsidiary are pending and that pushes the price down." VARIOUS OF TRADERS AT WORK BOARD SHOWING DEVELOPMENT OF SHARES BRUNNER TAKING HIS SEAT AT THE TRADING FLOOR BOARD SHOWING RECENT DEVELOPMENT FO DAX VARIOUS OF TRADERS BOARD SHOWING DAX CURVE EXTERIOR OF STOCK EXCHANGE
- Embargoed: 16th August 2021 11:02
- Keywords: Allianz China Deutsche Wohnen Markets Vonovia stocks
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Europe,Economic Events,Equities Markets
- Reuters ID: LVA001EOL7MVH
- Aspect Ratio: 16:9
- Story Text: European shares look set to start the month in positive territory with the mood buoyed by a strong rebound in China stocks and progress on a U.S. infrastructure bill. Following gains in Asia, futures on European country benchmarks were trading up around 0.4%, while U.S. stock futures were also pointing to a positive start on Wall Street later on.
"At the moment, the signs are up. Today the DAX is about one percent up. The reason is good news from China. The leadership is delivering a more conciliatory stance than last week. Conciliatory signs create a more friendly mood in the stock exchanges" said Arthur Brunner of ICF Bank.
On the corporate news front, earnings and deal making activity could liven up the session today. HSBC reported forecast-beating first-half pretax profit with its shares in Hong Kong last up 1.5% and set for a third straight session of gains.
In M&A, Vonovia has sweetened its bid for rival Deutsche Wohnen, while private equity firm CD&R is reportedly set to make a counter bid for UK supermarket chain Morrisons.
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