- Title: GERMANY: German DAX slightly up in early trading
- Date: 17th February 2011
- Summary: FRANKFURT, GERMANY (FEBRUARY 16, 2011) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE HIGH SHOT OF FLOOR TRADERS WORKING ON COMPUTERS NEWS SCROLL READING "WORLD'S LARGEST STOCK EXCHANGE: DEUTSCHE BOERSE AND NYSE AGREE ON MERGER" TRADER SPEAKING ON PHONE VARIOUS OF ELECTRONIC BOARD VARIOUS OF TRADERS LOOKING AT MONITOR DAX CURVE (SOUNDBITE) (English) ROBERT HALVER FROM BAADER BANK AG, SAYING: "There is a big need to consolidate the international stock exchange markets. We have already a merger between the Toronto stock exchange and the London stock exchange. That's why this step is the right step between the German stock exchange and the NYSE." PAN ACROSS ELECTRONIC BOARD (SOUNDBITE) (English) ROBERT HALVER FROM BAADER BANK AG, SAYING: "It's a good solution for both places, for Frankfurt and for New York but I guess one thing is very important: the German place for financial markets should be a big one and I hope that the Americans will not switch all main capacities out of Frankfurt to New York." TRADER WORKING ON COMPUTER (SOUNDBITE) (German) ROBERT HALVER FROM BAADER BANK AG, SAYING: "Mr. (Jens) Weidmann is a close assistant to Mrs. (Angela) Merkel, a close economic advisor. One could argue and say: what about the Bundesbank's independence if a close assistant is put into that position? But I believe that the current difficult times we are facing, such as the euro crisis and the stability crisis and how the ECB and the Bundesbank deal with them demand unconventional solutions." TRADERS LOOKING AT MONITORS WIDE OF DAX BOARD HIGH SHOT OF FLOOR
- Embargoed: 4th March 2011 12:00
- Keywords:
- Location: Germany, Germany
- Country: Germany
- Topics: Finance
- Reuters ID: LVA4U5E4NIZQTW5G6YTZXT5LS5O4
- Story Text: The merger between Deutsche Boerse and NYSE Euronext is "the right step, a good solution for both places," said a Frankfurt trader on Wednesday (February 15), one day after the announcement.
Robert Halver, a stock trader with Baader Bank AG, told Reuters Television that "one thing is very important: the German place for financial markets should be a big one and I hope that the Americans will not switch all main capacities out of Frankfurt to New York."
His remarks came as the DAX index made slight gains in early trading, with an increase of around 0.1 percent, or up 9 points to around 7,400.
Halver also commented on Jens Weidmann, Chancellor Angela Merkel's economic advisor who was widely expected to be named the new Bundesbank president later on Wednesday.
"Weidmann is a close assistant to Mrs. (Angela) Merkel," Halver said.
"One could argue and say: what about the Bundesbank's independence if a close assistant is put into that position? But I believe that the current difficult times we are facing, such as the euro crisis and the stability crisis and how the ECB and the Bundesbank deal with them demand unconventional solutions." - Copyright Holder: REUTERS
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