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What’s next? – DAX 02.03.18

Mar 2 2018, 01:56 PM (+06) | Fortfs.com

The German stock index DAX futures were 2.98 percent lower at 12,062 in European hours on Friday, with market players preparing for a weekend fulfilled with political risks.

 

The benchmark ended at 12,190.94 on Thursday, down 244.91 points or 1.97 percent, with Software, Consumer & Cyclical and Technology stocks pushing lower.

 

The best performers of the session were RWE, which dropped 0.52 percent or 0.085 points to 16.325. Henkel & Co dropped 0.64 percent or 0.70 points to finish at 108.60, while Heidelbergcement eased 0.82 percent or 0.680 points to 82.060 in late trade.

 

The worst performers of the session were Beiersdorf, which plunged as much as 4.48 percent to 86.080. Fresenius followed with a 3.58 percent or 2.400 points loss at 64.700 and Adidas declined 3.56 percent or 6.50 points to 176.10.

 

The DAX went down as the weekend gets closer and with it, a key vote that might define the future of Europe’s first economy in terms of politics. SPD is set to decide whether it will or not form a coalition government with Chancellor Angela Merkel.

 

German and Eurozone manufacturing PMI indexes for February were above expectations at 60.6 and 58.6 points against 60.3 and 58.5 points respectively.

 

Ahead in today’s session, focus will shift to Germany’s retail sales for January at 07:00 GMT.

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