Dax rises slightly – Fed boss Powell in focus – BVB shares in positive territory – 24.08.18

Uncertainty about the outcome of the US-Chinese tariff dispute has deprived European stock markets of weekend strength. The Dax was 0.2 percent higher at 12.390 points on Friday afternoon in a listless trade, the EuroStoxx50 rose by 0.3 percent to 3430 points. "The financial markets remain in the political but at the moment rather quiet waters," summarized Helaba analyst Claudia Windt.

Conversely, the US and China have recently imposed new tasks, while at the same time trade negotiations have resumed. This can end in another escalation stage or, at best, with a withdrawal of existing tasks, according to Windt. "Nothing seems impossible with US President Trump."

Walls had risen slightly on Wall Street. Investors leaned out of the window for a speech in the late afternoon (CEST) by Fed Chairman Jerome Powell at the Fed meeting in Jackson Hole. "Jackson Hole could break the stock markets from the low-selling summer of the last few days," said Thomas Altmann from asset manager QC Partners. Powell follows US President Donald Trump's criticism of the Fed's interest under special observation. "It would be important to show that even the American president can not exert pressure", said a stockbroker. The dollar guards have tightened their interest rates twice this year. The next increase for September is still expected at the stock exchanges in the US.

The dollar index was replaced by the speech. The euro climbed from $ 1.1537 to $ 1.1585 in the closing price on Thursday.


The favorites on the stock exchange include Friday's financial and car shares, some of which have recently been significantly lost. In the banking sector, Unicredit and Societe Generale achieved 1.3 percent each. According to an Italian media report, the largest bank in Italy is preparing for merger talks with the French institution. Both banks did not want to comment on this.

CTS Eventim was able to recover on Thursday from their price range of up to ten percent, after the Federal Court of Justice (BGH) had banned a lump sum for self-printed concert tickets. The shares rose with a peak of 10.6 percent. The company made it clear that its income was only slightly affected. The costs – € 2.50 per order – added to only one million euros per year, CTS Eventim said on Friday. That is only one thousandth of the annual turnover.

Borussia Dortmund played a leading role in the small-cap index SDax with profits up to 3.5 percent. Player numbers of one million dollars brought sales figures to Germany's only listed football club.

In London, investors took commodity stocks to the portfolio in the midst of rising copper prices. The shares of mining operator Antofagasta climbed more than two percent.


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Source: Lisi Niesner / Reuters

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