- Title: GERMANY: DAX opens almost unchanged hours before Cypriot banks reopen
- Date: 28th March 2013
- Summary: FRANKFURT, GERMANY (MARCH 28, 2013) (REUTERS) PAN FROM CEILING TO FLOOR AT FRANKFURT STOCK EXCHANGE DAX'S PREVIOUS DAY'S CLOSE AT 7,789.09 POINTS TRADER LOOKING AT MONITORS WIDE OF DAX BOARD TRADER ON PHONE BOARD SHOWING DAX INCREASE OF 25.28 POINTS OR 0.32 PERCENT WIDE OF DAX BOARD HIGH SHOT OF TRADERS ON FLOOR VARIOUS OF TRADERS WORKING ON COMPUTERS DAX CURVE TRADER LOOKING AT MONITORS BANKS SHARES ON BOARD VARIOUS OF TRADERS ON FLOOR WIDE OF DAX BOARD
- Embargoed: 12th April 2013 13:00
- Location: Germany
- Country: Germany
- Topics: Economy
- Reuters ID: LVA2LVAPWYZF32C32FTCDBT5BT03
- Aspect Ratio:
- Story Text: The German DAX index started into the Easter holiday weekend almost unchanged on Thursday (March 28), hours before Cypriot banks were expected to reopen.
A modest increase of 0.04 percent rose to 0.1 percent nearly two hours into trading, with investors closely eyeing developments on the Mediterranean island.
Due to the turbulences surrounding Cyprus, the DAX had lost 1.5 percent since the beginning of the week.
Worries over the impact of a bailout of Cyprus, including fears of a run on the island's banks when they reopen at 1000 GMT, were expected to cap gains and weigh on equity markets in the second quarter.
Many investors expect the market to drop back in the coming quarter, but then resume an upwards trajectory as 2013 progresses, given expectations of a gradual recovery in the global economy.
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