- Title: GERMANY: DAX opens with light gains on public holiday
- Date: 18th May 2012
- Summary: FRANKFURT, GERMANY (MAY 17, 2012) (REUTERS) VARIOUS EXTERIORS OF FRANKFURT STOCK EXCHANGE VARIOUS OF TRADERS WORKING ON COMPUTERS WIDE OF DAX BOARD (SOUNDBITE) (German) TRADER WITH CLOSE BROTHERS SEYDLER, OLIVER ROTH, SAYING: "There are two factors influencing the DAX today. On the one hand, it's obviously the debt crisis and the escalation in Greece. On the other hand, we are hopeful that positive economic data from the United States will have its effect here as well. That's also the reason for the DAX's roller coaster ride over the past few days here at Frankfurt stock exchange." DAX BOARD SHOWING LOSSES OF 3.02 POINTS OR 0.05 PERCENT (SOUNDBITE) (German) TRADER WITH CLOSE BROTHERS SEYDLER, OLIVER ROTH, SAYING: "Even after a Greek departure from the euro zone the world will continue to turn. It's no disaster and it's no catastrophe either but it will of course lead to a lot of pressure on capital markets. It will lead to uncertainties and it will cost a lot of money." TRADER TALKING ON PHONE VARIOUS OF TRADERS WORKING ON COMPUTERS WIDE OF DAX BOARD HIGH SHOT OF FLOOR
- Embargoed: 2nd June 2012 13:00
- Keywords:
- Location: Germany
- City:
- Country: Germany
- Topics: Economy
- Reuters ID: LVA4A5BBQOYYWWY6BZQXQW7LZD6S
- Aspect Ratio:
- Story Text: Germany's DAX index opened around 0.3 percent higher on Thursday (May 17), a public holiday across the country, as investors said European equities would remain under pressure in coming weeks.
"There are two factors influencing the DAX today. On the one hand, it's obviously the debt crisis and the escalation in Greece," Frankfurt trader Oliver Roth of Close Brothers Seydler told Reuters Television.
"On the other hand, we are hopeful that positive economic data from the United States will have its effect here as well. That's also the reason for the DAX's roller coaster ride over the past few days here at Frankfurt stock exchange."
Some 45 minutes into trading, the DAX suffered slight losses.
"Even after a Greek departure from the euro zone the world will continue to turn," Roth said, adding "it's no disaster and it's no catastrophe either but it will of course lead to a lot of pressure on capital markets."
"It will lead to uncertainties and it will cost a lot of money," Roth predicted, repeating earlier remarks by IMF chief Christine Lagarde who warned of "extremely expensive" consequences should Greece leave the euro zone, a once taboo possibility that European leaders have begun to discuss openly after the nation descended into political chaos. - Copyright Holder: REUTERS
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