- Title: Fear of protectionism hits DAX after Trump's inauguration speech
- Date: 23rd January 2017
- Summary: FRANKFURT, GERMANY (JANUARY 23, 2017) (REUTERS) VARIOUS OF FLOOR AT FRANKFURT STOCK EXCHANGE WIDE OF DAX BOARD DAX CURVE VARIOUS OF TRADERS VARIOUS OF BANK SHARES ON BOARD VARIOUS OF TRADERS DAX BOARD BOARD SHOWING DAX LOSS OF 1.01 PERCENT (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "British Prime Minister (Theresa) May will be the first to personally meet Mr. Trump and the two will surely aim for a trade agreement. So Germany and German export-oriented companies need to be very careful because they depend on the world economy. Every trade protectionism and every trade deal which is not for us is against us. That's the reason why the DAX is pointing downward." VARIOUS OF TRADERS (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Similarities between his election campaign and the presidency are not accidental, meaning that the choice of words is very clear and striking. We can expect an absence of refined diplomatic speak. But what's decisive for the DAX right now is the question what he will implement. What does his world power policy look like? We still know little so everyone is hoping that his team of experts and professionals will pull and push him in the right direction." TOP SHOT OF FLOOR
- Embargoed: 6th February 2017 10:55
- Keywords: DAX Frankfurt Trump May trade Brexit
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA00160AUL59
- Aspect Ratio: 16:9
- Story Text: European shares fell in early trading on Monday (January 23), with Germany's DAX opening 0.8 percent lower.
According to Robert Halver of Baader bank, investors in Germany fear that Britain and the U.S. could sidestep others with bilateral trade deals.
"British Prime Minister (Theresa) May will be the first to personally meet Mr. Trump and the two will surely aim for a trade agreement. So Germany and German export-oriented companies need to be very careful because they depend on the world economy."
"Every trade protectionism and every trade deal which is not for us is against us. That's the reason why the DAX is pointing downward," said Halver.
The head of his bank's capital markets analysis said that what the DAX needed most was an answer to "the question what he will implement."
"What does his world power policy look like?," Halver asked in reference to U.S. President Donald Trump?
"We still know little so everyone is hoping that his team of experts and professionals will pull and push him in the right direction," said Halver.
At noon (1100 GMT), the DAX stood at 11,585 points, down 44 points or 0.39 percent. - Copyright Holder: REUTERS
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