- Title: Turkish referendum leaves German stocks unaffected
- Date: 18th April 2017
- Summary: FRANKFURT, GERMANY (APRIL 18, 2017) (REUTERS) VARIOUS OF EXTERIOR OF FRANKFURT STOCK EXCHANGE TRADING FLOOR CLOSE OF BOARD SHOWING DAX INDEX TRADER BOARD SHOWING DAX STARTING AT 12.135.61 POINTS AND FALLING TRADER LOOKING AT SCREEN BANK SHARES ON BOARD TRADER LOOKING AT SCREEN BOARD SHOWING DAX CHANGES TRADING FLOOR BOARD TRADER LOOKING AT SCREEN WIDE OF BOARD SHOWING DAX CURVE (SOUNDBITE) (German) HEAD OF CAPITAL ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "This week we are thinking about what the Turkish elections mean for Europe. That's not an urgent matter but in the long run it will become important. The real question is: What will the French do on Sunday? How much is France willing to vote for Madame Le Pen? How much are they willing to vote for monsieur Macron? In the long run it will not be a big problem, they will vote in a European friendly way. But for now every wealth manager around the world has the perfect reason for saying: Let's wait and see what will happen this week." TRADER TYPING ON KEYBOARD (SOUNDBITE) (German) HEAD OF CAPITAL ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "In terms of economic policy there will not be great changes. But over the coming weeks and months we certainly have to think about how to deal with Turkey. It is never good when a small majority dominates over a large minority in a referendum. It is never good if there are doubts about the election result. And if an election outcome indicates that a country is deeply divided then Turkey will not be the number one destination for investments." TRADER LOOKING AT SCREEN WIDE OF BOARD SHOWING DAX CURVE WIDE OF TRADING FLOOR
- Embargoed: 2nd May 2017 10:36
- Keywords: DAX stock exchange markets
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA0016CXCUX9
- Aspect Ratio: 16:9
- Story Text: German shares dropped on Tuesday (April 18) after a promising start following a long Easter weekend in Frankfurt. Traders could not make out an immediate reason for weakening courses but indicated to very small turnover volumes.
The outcome of the referendum in Turkey left courses in Frankfurt quite unimpressed. Traders were already thinking about France, said Robert Halver, head of Baader bank's capital analysis.
"How much is France willing to vote for madame Le Pen? How much are they willing to vote for monsieur Macron? In the long run it will not be a big problem, they will vote in a European friendly way. But for now every wealth manager around the world has the perfect reason for saying: Let's wait and see what will happen this week", he said.
The tight outcome of the referendum would point to a deeply divided country which would not make Turkey a number one destination for investments, Halver added. - Copyright Holder: REUTERS
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