- Title: GERMANY: German DAX opens 0.04 percent down before hitting two-month low
- Date: 24th June 2013
- Summary: FRANKFURT, GERMANY (JUNE 24, 2013) (REUTERS) EXTERIOR OF FRANKFURT STOCK EXCHANGE HIGH SHOT OF FLOOR VARIOUS OF TRADERS WORKING ON COMPUTERS DAX CURVE ON BOARD VARIOUS OF TRADERS BANK SHARES ON BOARD (SOUNDBITE) (English) HEAD TRADER AND MARKET STRATEGIST, CLOSE BROTHERS SEYDLER BANK, OLIVER ROTH, SAYING: "What we are expecting is that we will have some backwind from the economic side because from the liquidity side, from the central banks, we don't expect a lot more positive influences on the markets. So therefore, we are kind of dependent on better economic data which is not really expected." TRADERS WORKING ON COMPUTERS PAN ACROSS BOARD (SOUNDBITE) (English) HEAD TRADER AND MARKET STRATEGIST, CLOSE BROTHERS SEYDLER BANK, OLIVER ROTH, SAYING: "Well, in the near future I see a lot of trouble coming towards the DAX, simply because we don't have a lot of better influences coming from the central banks. So what we need is economic data, better economic data and what we can see out of Asia, for example, is that we don't get that. Therefore, we will see some higher volatility in the summer months coming up now. So what I expect is a DAX between 7,700 and 8,000 (points) but with low liquidity and high volatility." HIGH SHOT OF TRADERS LOOKING AT SCREENS DAX BOARD SHOWING INCREASE OF 25.72 POINTS OR 0.33 PERCENT SOME 30 MINUTES INTO TRADING TRADERS TALKING TO EACH OTHER WIDE OF DAX BOARD HIGH SHOT OF FLOOR
- Embargoed: 9th July 2013 13:00
- Keywords:
- Location: Germany
- City:
- Country: Germany
- Topics: Economy,Politics
- Reuters ID: LVAD3S5KWMGLXER3WBB9PV9Z6DPD
- Aspect Ratio:
- Story Text: Germany's DAX index opened 0.04 percent down on Monday (June 24) and extended its losses to a two-month low of 7,671.98 points some 90 minutes into trading.
One Frankfurt trader predicted "a lot of trouble" for the DAX in the coming months after fears persisted that central banks would keep money tight.
The head trader of Close Brothers Seydler bank, Oliver Roth said "what we need is economic data, better economic data and what we can see out of Asia.. is that we don't get that."
"Therefore, we will see some higher volatility in the summer months coming up now. So what I expect is a DAX between 7,700 and 8,000 (points) but with low liquidity and high volatility," Roth said.
Some two hours into trading, the DAX had lost 110 points and was at 7,681 points, a loss of around 1.4 percent. - Copyright Holder: REUTERS
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