German equities drop on US fiscal cliff, Greek woes

Source: Dukascopy Bank SA
© Scanpix/Reuters
German shares plunged in risk-off Friday's session. Market players remained cautious amid growing uncertainty over fiscal cliff in the US and worries over whether Greece will receive financial aid. On Friday, German Finance Minister Wolfgang Schaeuble stated that may be too early to grant the next tranche of the bailout to Greece. The DAX Index dropped 1.55% and is currently trading at 7,092.98. Only one company within the index managed to post mild gains. Deutsche Post inched up 0.79%. On the downside were financials. Deutsche Bank and Commerzbank declined 4.60% and 5.77%. Allianz plunged 2.59% despite reporting upbeat quarterly results. The company's net profit climbed almost sevenfold in Q3. Meanwhile, BMW shed 0.06% despite announcing a record global sales in October due to stronger demand from Asia and the US.


Back to articles

Actual Topics

Fri, 09 Nov 2012 17:19:01 GMT

U.S. Consumer confidence grows more tha expected

Consumer confidence advanced more than expected this month touching the highest level in five years on improving labor market in the U.S. The consumer sentiment index rallied to 84.9 in November, compared with the prior month's reading of 82.6. The index showed the fourth biggest improvement since July 2007, as it was forecast to stay at 82.9 for this month. The sentiment of Americans is

Fri, 09 Nov 2012 19:30:27 GMT

UK stocks retreat on renewed Greek concerns

UK equities declined, heading for the largest weekly slump in two months amid lingering concerns over the US fiscal cliff. Moreover, rising worries over whether Greece will get a new tranche of the bailout added to losses of the UK equities. German Finance Minister Wolfgang Schaeuble said that it may be too early to grant more aid to Greece. However,

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.