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What’s next? – DAX 22.03.18

Mar 22 2018, 02:13 PM (+06) | Fortfs.com

The DAX futures were 0.47 percent lower at 12,266 in Asian hours on Thursday, with investors looking ahead to fresh economic reports later in the session.

 

The German benchmark ended Wednesday at 12,309.15 in Frankfurt, rising +1.82 or +0.01%, with Food & Beverages, Consumer & Cyclical and Chemicals pushing while Transportation & Logistics, Telecoms and Retail sectors capped gains.

 

The DAX struggled for direction ahead of Fed’s monetary meeting in the previous session.

 

The US central bank raised its benchmark rate by 25 basis points and reinforced the idea of further monetary policy adjustments for the near future.

 

The Federal Reserve rose interest rates to a range between 1.50 and 1.75 percent. The move was widely anticipated and therefore little reaction was seen following the announcement.

 

The best performers of the session were Adidas, which added 1.80% or 3.50 points to 198.15, followed by Thyssenkrupp rising 1.70% or 0.370 points at 22.160 and Linde up 1.49% or 2.55 points to 174.20.

 

The worst performers of the session were Deutsche Bank, which dropped 4.86% or 0.615 points to 12.045, Deutsche Lufthansa easing 2.74% or 0.750 points to 26.630 and Merck down 1.20% or 0.94 points to 77.70.

 

Germany’s manufacturing and services PMIs for March are due at 08:30 GMT, followed by business expectations, current assessment and lfo business climate index at 09:00 GMT. The European Union and the United Kingdom will also be releasing activity data at 09:00 GMT and 09:30 GMT respectively. Attention in the UK will be shifted to the monetary policy meeting of the Bank of England, although interest rates are expected to remain in place.

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