- Title: German markets still playing wait and see game on Trump.
- Date: 9th January 2017
- Summary: FRANKFURT, GERMANY (JANUARY 9, 2017) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE SIGN FOR STOCK EXCHANGE INTERIOR OF TRADING FLOOR VARIOUS OF TRADERS AT DESKS DAX INDEX BOARD TRADER LOOKING AT SCREEN DAX INDEX BOARD TRADERS IN FRONT OF SCREENS DAX INDEX BOARD TRADERS SEEN OVER DESKS PAN OVER DAX INDEX BOARD (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Everyone is back, the holidays are over. It's back to real life again in the New Year 2017. And after a few good weeks recently there now comes a period of caution. In a few days Mr. Trump will become the new U.S. president. We still don't know exactly what he is planning. We have a lot planned this year and ahead of this we would like a bit of peace." DAX INDEX BOARD TRADER WORKING (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Clearly, this mudslinging between VW and the U.S. authorities has to stop. It doesn't help anyone when the FBI makes public that they have temporarily arrested a VW manager in the U.S. But should we get a result this week that there has been an agreement between VW and the judicial authorities this would be a vital step forward. We need clarity on the situation. Mudslinging is not helping anyone. The company's business model needs to get the attention of the investors again. And the sooner this happens, the better." DAX INDEX BOARD TRADER AT DESK DAX INDEX BOARD TRADERS TALKING INTERIOR OF TRADING FLOOR
- Embargoed: 24th January 2017 10:06
- Keywords: Markets DAX Trump VW
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Currencies/Foreign Exchange Markets,Economic Events
- Reuters ID: LVA0015YCZMH9
- Aspect Ratio: 16:9
- Story Text: European shares edged lower on Monday (January 9, 2017) and German markets dipped slightly after downbeat news from Lufthansa and uncertainty on what will come out of the U.S. after Donald Trump's inauguration on January 20.
"It's back to real life again in the new year 2017. And after a few good weeks recently there now comes a period of caution. In a few days Mr. Trump will become the new U.S. president. We still don't know exactly what he is planning," Robert Halver, head capital analyst at Baader Bank told Reuters TV.
U.S. media reported the arrest of a Volkswagen executive on charges of conspiracy to defraud the United States, by the FBI on Monday.
VW admitted in September 2015 to installing secret software known as "defeat devices" in 475,000 U.S. 2.0-liter diesel cars to cheat exhaust emissions tests and make them appear cleaner in testing. In reality, the vehicles emitted up to 40 times the legally allowable pollution levels.
The news comes as Volkswagen was nearing a deal to resolve criminal and civil allegations over its diesel cheating, crucial steps toward moving past the scandal, which has cost it billions of dollars and its reputation.
"Clearly, this mudslinging between VW and the U.S. authorities has to stop. It doesn't help anyone when the FBI makes public that they have temporarily arrested a VW manager in the U.S. But should we get a result this week that there has been an agreement between VW and the judicial authorities this would be a vital step forward. We need clarity on the situation," Halver said.
Volkswagen shares were up 2 percent at 141.75 euros by 3.16 a.m. ET, at the top of a 0.2 percent-weaker German blue-chip DAX, on the expected deal. - Copyright Holder: REUTERS
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