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What’s next? – DAX 14.03.18

Mar 14 2018, 01:22 PM (+06) | Fortfs.com

The DAX futures were 2.18 percent lower at 12,154 in Asian hours on Wednesday, amid a weakening market sentiment in the light of political concerns coming out from the United States.

 

Overnight, market players flew to safe-haven assets after the US Government announced that Secretary of State Rex Tillerson was fired on Tuesday.

 

US President Donald Trump said there were differences with Tillerson over the Iran nuclear deal. Tillerson will be replaced by the Central Intelligence Agency Director Mike Pompeo.

 

Ahead in the day, market participants will be focusing on Germany’s consumer price index for February will be available at 07:00 GMT, followed by Eurozone’s industrial production for January at 10:00 GMT.

 

Also, attention will be directed to the United States, where investors await the producer price index for February and retail sales as of 12:30 GMT. The latest reading on business inventories will be out at 14:00 GMT.

 

On Tuesday, the German benchmark settled at 12,221.03, down 197.36 points or 1.59 percent, with Chemicals, Insurance and Technology pushing lower.

 

The best performers of the session were E.ON, which added 9.84 percent or 0.832 points to 9.285. RWE was up 5.70 percent or 1.025 points to close at 19.020 and Deutsche Lufthansa followed with a 0.96 percent gain or 0.250 points to 26.250.

 

The worst performers of the session were Prosiebensat 1 Media, which dropped 4.56 percent or 1.290 points to 26.990. Volkswagen notched down 2.38 percent or 3.78 points to 154.80 and Linde eased 2.26 percent or 4.20 points to 181.70.

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