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DAX 30 Fundamental Forecast – September 7, 2016
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The DAX 30 jumped over 36 points to 10708.50 ahead of some main German data due later this week. Eurozone GDP printed at forecast helping the exchange to
The DAX 30 jumped over 36 points to 10708.50 ahead of some main German data due later this week. Eurozone GDP printed at forecast helping the exchange to remain positive. The Stoxx Europe 600 Index was little changed near this year’s high, with trading volumes 34 percent less than the 30-day average. Germany’s benchmark DAX Index added 0.4 percent and is close to erasing its annual decline. Fresenius SE rose 3.2 percent after the healthcare provider said it will pay $6.42 billion for Spain’s largest private hospital company, IDC Salud Holding S.L.U. Ingenico Group SA, dragged technology companies to the worst performance on the Stoxx 600, slumping 13 percent after the electronic payments processor lowered its annual profit margin and revenue growth forecasts.
Europe equities have followed on from the trend set yesterday, with equities trading in a tentative fashion as they await the return of the US after their long Labor Day weekend. Indices remain flat on the session, with energy names the notable outperformers following the vague agreement seen yesterday between Russia and Saudi Arabia, while Deutsche Telekom are among the worst performers after the spokesman denied reports on possible restructuring measures and stated there is no new job cutting program.
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Upcoming Economic Events that you should be monitoring:
September 7, 2016
| Cur. | Event | Actual | Forecast | Previous | |||
| AUD | GDP (QoQ) (Q2) | 0.4% | 1.1% | ||||
| AUD | GDP (YoY) (Q2) | 3.2% | 3.1% | ||||
| GBP | Halifax House Price Index (MoM) (Aug) | -0.4% | -1.0% | ||||
| GBP | Halifax House Price Index (YoY) (Aug) | 7.0% | 8.4% | ||||
| GBP | Industrial Production (MoM) (Jul) | -0.3% | 0.1% | ||||
| GBP | Manufacturing Production (MoM) (Jul) | -0.4% | -0.3% | ||||
| GBP | NIESR GDP Estimate | 0.3% | |||||
| USD | JOLTs Job Openings (Jul) | 5.624M | |||||
| CAD | Interest Rate Decision | 0.50% | |||||
| CAD | Ivey PMI (Aug) | 57.0 | |||||
| USD | Beige Book |
Government Bond Auctions
Date Time Country Auction
Sep 07 10:30 Denmark Holds bond auction
Sep 07 11:03 Sweden Holds bond auction
Sep 07 11:30 Germany Eur 5bn 0% Aug 2026 Bund
Sep 08 11:00 Ireland Holds bond auction
Sep 08 17:20 Italy Announces details of bond auction
About the Author
Barry Normanauthor
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