GERMANY: German DAX starts 0.3 percent higher into new week

Record ID: 863156

  • Title: GERMANY: German DAX starts 0.3 percent higher into new week
  • Date: 15th July 2013
  • Summary: FRANKFURT, GERMANY (JULY 15, 2013) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE TRADING FLOOR TRADERS DAX CURVE ON ELECTRONIC BOARD TRADER ELECTRONIC BOARD TRADERS VARIOUS OF BANK SHARES (SOUNDBITE) (German) CAPITAL MARKET ANALYST AND TRADER WITH HAUCK&AUFHAEUSER BANK, FIDEL HELMER, SAYING: "This week we will of course wait and see how (Federal Reserve Chairman Ben) Bernanke's speech goes. Last week he was the reason why shares rose extremely." PAN ACROSS TRADERS BOARD SHOWING DAX LOW OF 8,237.36 POINTS AT 09:03 A.M. (SOUNDBITE) (German) CAPITAL MARKET ANALYST AND TRADER WITH HAUCK&AUFHAEUSER BANK, FIDEL HELMER, SAYING: "Financial circles expect from France that the economy will recover and that they will implement their savings measures in order for the economy to pick up again. So a downgrade by rating agencies such as Fitch is obviously not helpful at all." VARIOUS OF TRADERS AT DESKS BOARD SHOWING DAX INCREASE OF 48.09 POINTS OR 0.59 PERCENT (SOUNDBITE) (German) CAPITAL MARKET ANALYST AND TRADER WITH HAUCK&AUFHAEUSER BANK, FIDEL HELMER, SAYING: "China had a growth rate of eight or nine percent and if growth is now half a percent or one percent lower than what analysts had predicted then there should not be any reason for panic. China still has a growth rate European countries can only dream of." PAN ACROSS TRADERS WIDE OF DAX BOARD TRADING FLOOR
  • Embargoed: 30th July 2013 13:00
  • Keywords:
  • Location: Germany
  • City:
  • Country: Germany
  • Topics: Economic News
  • Reuters ID: LVAC2CEOXBG719KB6W156X4GIWL
  • Aspect Ratio:
  • Story Text: The German DAX opened 0.3 percent higher on Monday (July 15), after it finished the previous week 0.66 percent up, with one Frankfurt trader saying the markets' attention was now on Federal Reserve Chairman Ben Bernanke's speech later this week.
    "Last week he was the reason why shares rose extremely," said Fidel Helmer, capital market analyst and trader with Hauck & Aufhaeuser.
    Asked to comment on last week's downgrade of France by rating agency Fitch, Helmer said "financial circles expect from France that the economy will recover and that they will implement their savings measures in order for the economy to pick up again."
    "So a downgrade by rating agencies such as Fitch is obviously not helpful at all."
    Following reports that China's second-quarter economic growth cooled to 7.5 percent from 7.7 percent in January-March, Helmer said things should be kept in perspective.
    "If growth is now half a percent or one percent lower than what analysts had predicted then there should not be any reason for panic. China still has a growth rate European countries can only dream of," Helmer said.
    Some two hours into trading, the DAX was up around 38 points at 8,250 points, an increase of 0.47 percent.
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