GERMANY: DAX opens more than 0.5 percent higher

Record ID: 859415

  • Title: GERMANY: DAX opens more than 0.5 percent higher
  • Date: 1st August 2013
  • Summary: FRANKFURT, GERMANY (AUGUST 01, 2013) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE HIGH SHOT OF FLOOR TRADERS ON FLOOR DAX CURVE ON ELECTRONIC BOARD, SHOWING 8,322 POINTS TRADER LOOKING AT TERMINALS DAX BOARD HIGH SHOT OF TRADERS NEWS SCROLL READING "AMERICA'S ECONOMY: FEDERAL RESERVE DOES NOT SHOW SIGNS OF AN EXIT" HIGH SHOT OF TRADER RUBBING HIS HANDS AND LOOKING AT TERMINALS VARIOUS OF BANK SHARES (SOUNDBITE) (German) CAPITAL MARKET ANALYST AND TRADER WITH HAUCK&AUFHAEUSER BANK, FIDEL HELMER, SAYING: "The Fed remains loyal to its policy of cheap money. Today, we will also see a few company earnings which look very positive, such as (German car maker) BMW which shows good figures as well as (German retailer) Metro. This had very positive consequences on today's (DAX) opening." TRADER LOOKING AT TERMINALS PAN ACROSS BOARD (SOUNDBITE) (German) CAPITAL MARKET ANALYST AND TRADER WITH HAUCK&AUFHAEUSER BANK, FIDEL HELMER, SAYING: "We've had improved economic figures recently and this will prevent the ECB from further lowering interest rates. We are very happy for now if the situation with the ECB remains as it is." WIDE OF DAX BOARD TRADER LOOKING ON BOARD SHOWING DAX LOW OF 8,316.89 POINTS AT 09:03 A.M. (0703 GMT) TRADER PICKING UP PHONE BOARD SHOWING DAX INCREASE OF 70.65 POINTS OR 0.85 PERCENT PAN ACROSS FLOOR HIGH SHOT OF FLOOR
  • Embargoed: 16th August 2013 13:00
  • Keywords:
  • Location: Germany
  • City:
  • Country: Germany
  • Topics: Economy
  • Reuters ID: LVA14I8OT7BZGVUN1NIFB9GAN47A
  • Aspect Ratio:
  • Story Text: Hours before the European Central Bank (ECB) was expected to announce its rate decision, Germany's DAX index on Thursday (August 1) opened 0.53 percent higher.
    Frankfurt trader Fidel Helmer said positive earning figures from German companies such as car maker BMW and retailer Metro had a favourable impact on the DAX.
    Asked to comment on the ECB rate decision expected for 1:45 p.m. (1145 GMT), Helmer predicted that the "improved economic figures recently.. will prevent the ECB from further lowering interest rates. We are very happy for now if the situation with the ECB remains as it is."
    Some 90 minutes into trading, the DAX had gained 59 points and was at 8,334 points, an increase of 0.7 percent.
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