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DAX Slips From Highs As European Party Atmosphere Dissipates

By Spreadex (Connor Campbell)Stock MarketsJan 23, 2018 12:03
uk.investing.com/analysis/dax-slips-from-highs-as-european-party-atmosphere-dissipates-200199445
DAX Slips From Highs As European Party Atmosphere Dissipates
By Spreadex (Connor Campbell)   |  Jan 23, 2018 12:03
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After an over-excited open the European markets calmed down somewhat this Tuesday, with the DAX pulling back from its all-time highs.

Despite the pound and euro being down against the dollar following the ending of the US government shutdown the European indices struggled to maintain their peak gains. The FTSE only managed to eke out a 0.1% rise, ignoring the 4.5% jump seen by easyJet (LON:EZJ), the far better than forecast public sector net borrowing number and sterling’s dip to focus on the chunky losses over in the mining sector.

The CAC meanwhile, previously up half a percent, actually fell into the red by a handful of points. Only the DAX kept the party going, and even then its growth shrank from 130 points to just shy of 90, the index losing sight of 13600 after a very strong pair of German and Eurozone-wide ZEW economic sentiment readings saw the euro climb 0.2% against the pound.

As for the Dow Jones, the futures have the index dipping 50 points after the bell, dragging it away from last night’s fresh peak. How the Dow ends up doing this afternoon may be down to those companies reporting before the bell, including Verizon (NYSE:VZ), Procter & Gamble (NYSE:PG), Johnson & Johnson (NYSE:JNJ) and Travellers (PS:RWM).

Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.

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DAX Slips From Highs As European Party Atmosphere Dissipates
 

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DAX Slips From Highs As European Party Atmosphere Dissipates

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