- Title: GERMANY: German DAX opens 0.3 percent higher as investors expect ECB rate cut
- Date: 4th November 2013
- Summary: FRANKFURT, GERMANY (NOVEMBER 04, 2013) (REUTERS) VARIOUS EXTERIORS OF FRANKFURT STOCK EXCHANGE VARIOUS OF TRADER WORKING ON COMPUTER BANK SHARES HIGH SHOT OF FLOOR TRADERS WIDE OF DAX BOARD TRADES (SOUNDBITE) (German) HEAD OF BAADER BANK'S CAPITAL MARKET ANALYSIS, ROBERT HALVER, SAYING: "We believe that the ECB could lower interest rates again. Compared to Japan and the United States, we have a high interest rate level at 0.5 percent. The euro is still very strong and since inflation is declining, at least officially, the ECB could lower interest rates once again, not this week but at least they could initiate it verbally." WIDE OF DAX BOARD (SOUNDBITE) (German) HEAD OF BAADER BANK'S CAPITAL MARKET ANALYSIS, ROBERT HALVER, SAYING: "I think that new social media such as Twitter today have a very different significance compared to before. And since Twitter is making money, I don't think it will be very difficult to sell these shares. It's obviously important to look at the offering price. Not any price should be paid but there is no way around social media." HIGH SHOT OF TRADER WIDE OF DAX BOARD DAX BOARD SHOWING LOW OF 9,019.31 POINTS AT 09:20 A.M. (0820 GMT) AND "LATEST" OF 9,029.90 POINTS AT 09:31 A.M. HIGH HOT OF FLOOR
- Embargoed: 19th November 2013 12:00
- Keywords:
- Location: Germany
- City:
- Country: Germany
- Topics: Economy,Politics
- Reuters ID: LVA7ZYD5J2ZFVLZT8CVOQ4GTS23A
- Aspect Ratio:
- Story Text: Germany's DAX index opened 0.3 percent higher on Monday (November 04) as investors expected the European Central Bank (ECB) to further lower interest rates.
Frankfurt trader Robert Halver of Baader bank said "compared to Japan and the United States, we have a high interest rate level at 0.5 percent."
"The euro is still very strong and since inflation is declining, at least officially, the ECB could lower interest rates once again, not this week but at least they could initiate it verbally," Halver predicted.
Some 90 minutes into trading, the euro stood at 1.35 against the U.S. dollar.
Asked to comment on social media company Twitter's going public, Halver said "I don't think it will be very difficult to sell these shares."
"It's obviously important to look at the offering price. Not any price should be paid but there is no way around social media," said Halver.
Twitter will be the talk of Wall Street this week when the company goes public in the stock market's most anticipated initial public offering since 2012's Facebook event.
Twitter is expected to price its IPO on the evening of Nov. 6 and begin trading Nov. 7 on the New York Stock Exchange.
Twitter has said it will sell 70 million shares for between $17 and $20, valuing the online messaging company as much as $11 billion, below the $15 billion that some analysts had been expecting.
At 10:40 a.m. (0940 GMT), the German DAX was up 0.29 percent at 9,034 points, an increase of 26 points. - Copyright Holder: REUTERS
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