GERMANY: Germany's DAX index opens with minor losses as one Frankfurt trader warns Germany, so far in a comfortable economic situation, could be sucked into southern Europe's troubles sooner or later
Record ID:
861250
GERMANY: Germany's DAX index opens with minor losses as one Frankfurt trader warns Germany, so far in a comfortable economic situation, could be sucked into southern Europe's troubles sooner or later
- Title: GERMANY: Germany's DAX index opens with minor losses as one Frankfurt trader warns Germany, so far in a comfortable economic situation, could be sucked into southern Europe's troubles sooner or later
- Date: 21st June 2012
- Summary: FRANKFURT, GERMANY (JUNE 20, 2012) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE HIGH SHOT OF FLOOR VARIOUS OF TRADERS WORKING ON FLOOR DAX CURVE ON ELECTRONIC BOARD VARIOUS OF TRADERS VARIOUS OF BANK SHARES (SOUNDBITE) (English) OLIVER ROTH FROM CLOSE BROTHERS SEYDLER BANK AG, SAYING: "For now, Germany is in a very luxurious situation. We have a growing economy, we have slowing down unemployment rates. Therefore for now, we are kind of safe. But in the debt crisis, we have accepted a lot of liabilities towards the southern part of Europe and if they stay in trouble, of course Germany will sooner or later be in trouble too." PAN ACROSS BOARD (SOUNDBITE) (English) OLIVER ROTH FROM CLOSE BROTHERS SEYDLER BANK AG, SAYING: "We have not seen any real results coming from the G20 and therefore, we are still between fear and hope: fear of the economic slowdown and hope for some support from the central banks." DAX BOARD SHOWING LOW OF 6,347 POINTS AT 09:07 A.M. (0707 GMT) TRADER WORKING ON COMPUTER WIDE OF DAX BOARD HIGH SHOT OF FLOOR
- Embargoed: 6th July 2012 13:00
- Keywords:
- Location: Germany
- City:
- Country: Germany
- Topics: Finance
- Reuters ID: LVA6IPWW9NPBWSZUSJBMG8WOXSYQ
- Aspect Ratio:
- Story Text: The German DAX index suffered losses of around 0.1 percent in early trading on Wednesday (June 20) before it making gains some 90 minutes after the Frankfurt stock exchange opened.
Trader Oliver Roth of Close Brothers Seydler bank warned that while Germany was still "in a very luxurious situation" with the economy growing and unemployment dropping, there was a danger that Germany too could be sucked into southern Europe's troubles.
"In the debt crisis, we have accepted a lot of liabilities towards the southern part of Europe and if they stay in trouble, of course Germany will sooner or later be in trouble too," said Roth.
At around 11:15 a.m. (0915 GMT), the DAX was at 6,374 points, an increase of 11 points or 0.18 percent. - Copyright Holder: REUTERS
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