- Title: European markets rattled as Trump projected winner of U.S. election
- Date: 9th November 2016
- Summary: FRANKFURT, GERMANY (NOVEMBER 9, 2016) (REUTERS) VARIOUS EXTERIORS OF FRANKFURT STOCK EXCHANGE WIDE OF TRADING FLOOR TRADER AT DESK DAX INDEX BOARD TRADER ON PHONE (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "We can forget the markets today, it's clear that they will crash, the shock is deep. The markets react to black and white and it is black when no-one had reckoned with this. Really? The polls were clear, but I think that today (the markets) will plunge deeply as we lick our wounds, and that it will only be in the days to come that we can think rationally." BANKING STOCKS (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "At first the DAX will give way a lot, it might be able to recover somewhat this afternoon, but the insecurity is so much that many share strategists and capital market strategists will have to reconsider their yearly prognoses. Insecurity is the be all and end all at the moment." TRADERS LOOKING AT SCREENS (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "(Donald) Trump is politically very green behind the ears. We don't know what he stands for, we don't know if he will push through what he said in the election. If he did it would be fatal, but I think his party, the Republicans, will make a stink about that." TRADERS LOOKING AT SCREEN STOCK EXCHANGE
- Embargoed: 24th November 2016 07:44
- Keywords: Markets Trump stocks U.S. election
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA00157Q3CJR
- Aspect Ratio: 16:9
- Story Text: European shares fell at the open on Wednesday after Republican nominee and political outsider Donald Trump won the U.S. presidential election, bringing uncertainty which roiled global markets.
"We can forget the markets today, it's clear that they will crash, the shock is deep. The markets react to black and white and it is black when no-one had reckoned with this. Really? The polls were clear, but I think that today (the markets) will plunge deeply as we lick our wounds, and that it will only be in the days to come that we can think rationally" said Robert Halver, Head of Capital Markets at the Baader Bank.
"At first the DAX will give way a lot, it might be able to recover somewhat this afternoon, but the insecurity is so much that many share strategists and capital market strategists will have to reconsider their yearly prognoses. Insecurity is the be all and end all at the moment," he continued.
Markets had priced a win for Democrat Hillary Clinton, who was seen as a status quo option. There is substantial uncertainty about Trump's policy positions, as well as market scepticism over his views on topics such as trade.
"(Donald) Trump is politically very green behind the ears," said Halver. "We don't know what he stands for, we don't know if he will push through what he said in the election. If he did it would be fatal, but I think his party, the Republicans, will make a stink about that."
Initial indicators had suggested falls of up to four percent at the open. Shortly before European markets opened, Trump gave a victory speech in which he said he would seek common ground and not hostility, seeking to work with other nations and to bring the country together. - Copyright Holder: REUTERS
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