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DAX 30 Flat in Early Trading as Lufthansa Share Price Spikes Sharply

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Yesterday, the DAX 30 opened up before morning losses which it never quite recovered from despite an afternoon rally following the ECB announcement. A late dip meant Germany’s benchmark index finished the day slightly down on Wednesday. The ECB announced that the euro area is showing economic solidity but also cautioned that the situation was still fragile and required the continued nurturing of its monetary easing through bond purchases. Interest rates were also maintained with no prospect of rises in the foreseeable future. The ECB’s statement read:

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“The Governing Council continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases,” the ECB said in a statement”.

Losses on Wall Street followed the European session yesterday and with Asian indices largely down this morning, the Nikkei 225 an exception, the DAX opened Friday with a 0.24 loss on Thursday’s close. In polar opposition to yesterday early trading has seen gains from a lower position and the DAX is currently flat having dipped slightly from gains seen around 10:00.

Muted activity is to be expected today in the run up to Trump’s presidential inauguration in the U.S. later. His address will be watched closely for policy clues, especially in connection to taxation and infrastructure plans, details which were missing from last week’s press conference, the first given since his election in November. The ‘Trump-rally’ has paused this week as market participants wait to see what his first actions will be after taking office as well as concern over recent protectionist statements.

After strong gains yesterday saw it top the DAX leaderboard, Commerzbank has started Friday in similar fashion and is already almost 3% up. Deutsche Bank has been doing well also and sits on a 1.27% gain as midday approaches.

Chemicals company Linde is down almost 1% with tyre marker Continental and Deutsche Boerse both showing losses of around 0.8% at present.

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This article was provided by Windsor Brokers. Click here for more information.


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