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German Market Moderately Higher

The German market was in positive territory on Monday, reversing the previous session's losses, despite some mixed cues from Asia. Greece was also in focus after Prime Minister Alexis Tsipras said he would not strike a deal with bailout lenders at any cost.

The European Central Bank should maintain the pace and volume of interventions so that inflation rises back towards 2 percent as quickly as possible, Executive Board Member Yves Mersch said.

Despite the success of the quantitative easing, "it is important that we do not get carried away. Unconventional monetary policy must remain exceptional and time-bound," he said at the Swedbank Economic Outlook Seminar.

British manufacturers reported growth in export orders and sales in the first quarter, a quarterly report released by the British Chambers of Commerce and DHL Express showed.

About 46 percent of manufacturers said increased export orders improved in the first quarter, compared to 36 percent in the fourth quarter, according to International Trade Outlook report.

The Euro Stoxx 50 index of eurozone bluechip stocks was rising 0.16 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, was gaining 0.31 percent.

The DAX index gained 0.8 percent.

Merck climbed around 2 percent. Volkswagen gained 2 percent, while BMW and Daimler were moderately higher.

Deutsche Bank and Commerzbank were trading in negative territory.

Other markets in the region were also in the green.

The Asian stocks turned in a mixed performance as weak U.S. data and signs of continuing downturn in the Chinese real estate market offset positive core machinery orders data from Japan.

In the U.S., futures point to a lower open on Wall Street. In the previous session, stocks ended narrowly mixed showing little change.

Crude for June delivery rose $0.46 to $60.15 per barrel, while June gold advanced $3.7 to $1229.0 a troy ounce.

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