- Title: Dax starts new week slightly higher
- Date: 22nd May 2017
- Summary: FRANKFURT, GERMANY (MAY 22, 2017) (REUTERS) EXTERIOR FRANKFURT STOCK EXCHANGE TRADING FLOOR ELECTRONIC BOARD SHOWING DAX GRAPH FALLING SLIGHTLY AT BEGINNING OF TRADING DAY ROBERT HALVER, HEAD OF CAPITAL ANALYSIS AT BAADER BANK, WITH TRADERS ELECTRONIC BOARD SHOWING OPENING OF DAX AT 12,664.97 POINTS TRADERS ELECTRONIC BOARD SHOWING BANKING SHARES TRADERS ELECTRONIC BOARD GERMAN SHARE INDEXES (SOUNDBITE) (German) HEAD OF CAPITAL ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The Dax is indestructible. It does not rise, however, but considering the problems that we have in the world, even in the U.S. where the president is under pressure and is likely not to get his economic offensive through, where there is even the chance that the market is overheated - but the Dax is doing fine. Real stamina." VARIOUS OF TRADERS ELECTRONIC BOARD SHOWING HIGH OF DAX AT 09:00:41 WITH 12,670.26 POINTS (SOUNDBITE) (German) HEAD OF CAPITAL ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Mr. Trump has not delivered yet. As far as I am concerned, he is inconsistent, he stands for everything and nothing, what he says today, will be waste-paper tomorrow. He does not know any half-lives, they are that short that we cannot measure them anymore. He does not have a clear concept, one never knows what to deal with, this is not working. He was a building tycoon, but as a U.S. president he has to demonstrate different qualities. And he does not do that yet. Surely, it is important that he now campaigns for peace in the Islamic world, that is absolutely right, but also in his domestic politics it should be clear by now in which direction it is heading. And what is also clear, if something sticks from the 'Trump-gates' with Russia and on passing of information, then Trump has a personal problem. But there won't be any impeachment process, the Republicans will not allow a mud-slinging-contest." VARIOUS OF TRADER ELECTRONIC BOARD SHOWING LOW OF DAX AT 09:31:09 WITH 12,618.81 POINTS (SOUNDBITE) (German) HEAD OF CAPITAL ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Every year we rescue Greece, every year they get fresh money. But you must finish what you started. The Greeks can't pay back their debt. Sooner or later there will be the oath (declaration of inability to pay), and then some of the debt must be annulled. No party likes to hear that ahead of a general election, especially not the German government, but we won't be able to get around it. The only solution for Greece was, is and remains the exit from the European Union and the elimination of all debt, so they can catch their breath. They Greeks can't win, it's the 15th pension reduction. Whatever else has to happen? The country is wrecked by its need to save. And for what? To prevent the euro zone from breaking apart. Because of the Greeks go, the Portuguese will follow, and so on." VARIOUS OF TRADERS ELECTRONIC BOARD SHOWING CHANGES OF DAX TRADER ELECTRONIC BOARD SHOWING DAX GRAPH TOP SHOT
- Embargoed: 5th June 2017 09:52
- Keywords: Greece Trump US stock market DAX Germany
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA0016HX74P9
- Aspect Ratio: 16:9
- Story Text: Germany's Dax started slightly higher into the trading week on Monday (May 22), opening at 12,663 points and a plus of 0.2 percent.
"The Dax is indestructible," said capital analyst at Baader Bank, Robert Halver at the stock exchange in Frankfurt.
Halver said the Dax was doing well regardless of various crises in the world and the political turmoil in the United States.
U.S. President Donald Trump's alleged links to Russia and his firing of former FBI chief James Comey raised concerns about his ability to push through promised fiscal stimulus.
Even though Halver didn't think an impeachment process was likely, he said that Trump was now pressed to show a clear line also in his domestic policies and stop sending inconsistent messages.
Halver also commented on the Greek debt crisis, saying that the only possible solution was a Greek exit from the European Union and a complete cut of debts.
Euro zone finance ministers and the International Monetary Fund will seek a deal on Monday (May 22) on Greek debt relief that balances the IMF's demand for a clear "when and how" with Germany's preference for "only if necessary" and "details later".
Without the deal, no new loans can be disbursed to Athens, even though the bailout is now handled only by euro zone governments, and Greece needs new credit to repay some 7.3 billion euros worth of maturing loans in July.
Without the loans, Athens is likely to default - a bad start for a country that wants to return to market financing next year when its latest bailout, the third since 2010, ends in mid-2018.
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