GERMANY: German DAX starts 0.8 percent lower into new week as U.S. shutdown drags on

Record ID: 860748

  • Title: GERMANY: German DAX starts 0.8 percent lower into new week as U.S. shutdown drags on
  • Date: 7th October 2013
  • Summary: FRANKFURT, GERMANY (OCTOBER 07, 2013) (REUTERS) VARIOUS EXTERIORS OF FRANKFURT STOCK EXCHANGE HIGH SHOT OF FLOOR CLOCK ON DAX BOARD AS TRADING BEGINS AT 9 A.M. (0700 GMT) PULLOUT FROM BOARD TO TRADER HIGH SHOT OF ANOTHER TRADER VARIOUS OF TRADERS WORKING ON COMPUTERS ROBERT HALVER, HEAD OF BAADER BANK'S CAPITAL MARKET ANALYSIS IN DISCUSSION DAX CURVE (SOUNDBITE) (German) HEAD OF BAADER BANK'S CAPITAL MARKET ANALYSIS, ROBERT HALVER, SAYING: "The markets expect an agreement in the U.S. budget stand-off but if the star of the financial world -- and that's the United States -- makes no progress in this budget conflict, it is always very negative. This means that markets really do sense this uncertainty." DAX BOARD (SOUNDBITE) (German) HEAD OF BAADER BANK'S CAPITAL MARKET ANALYSIS, ROBERT HALVER, SAYING: "I think that the (German) reporting season will not look so good for the third quarter. But the outlook is positive. So there are two sides to this: the past is negative, the future is very good." VARIOUS OF TRADERS WIDE OF DAX BOARD HIGH SHOT OF FLOOR
  • Embargoed: 22nd October 2013 13:00
  • Keywords:
  • Location: Germany
  • City:
  • Country: Germany
  • Topics: Economy,Politics
  • Reuters ID: LVA54XW8K20TLKHP7CBWPK0USBZN
  • Aspect Ratio:
  • Story Text: Germany's DAX index opened 0.8 percent lower on Monday (October 07) as the U.S. budget stand-off dragged on, taking a negative effect on markets.
    Frankfurt trader Robert Halver, Baader bank's head of capital market analysis, said markets expected an agreement.
    "But if the star of the financial world -- and that's the United States -- makes no progress in this budget conflict, it is always very negative. This means that markets really do sense this uncertainty," said Halver.
    Asked to comment on the German economy, Halver said he saw very positive indications.
    "I think that the (German) reporting season will not look so good for the third quarter. But the outlook is positive. So there are two sides to this: the past is negative, the future is very good," Halver said.
    Almost two hours into trading, the DAX suffered further losses and was down 98 points at 8,525 points, a decline of 1.14 percent.
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