The German benchmark was already given the prov isional agreement on Greek Debt Drama climbed shortly after the start of trading on a record at 11,158.55 points; after the publication of the Ifo stock market barometer was then a little further back from its intraday high. Finally, the index closed 0.51 percent higher still at 11 107.02 points.
“The German economy is robust against the geopolitical uncertainties,” said Ifo President Hans-Werner Sinn. The executives rated their position slightly worse than in the previous month, while their business outlook optimistic. Has improved the mood in the export-dependent industry. “An important driver is the international business,” commented sense. The industry benefits from the weakening euro, which has depreciated nearly 18 percent against the dollar within a year. This allows offered cheaper goods to important markets such as the world’s largest economy United States. Thus, the export expectations brightened already the fifth month in a row. The retailers are optimistic: they benefit from the fact that their customers are relieved by lower oil prices billion. “On the German consumer is unable to rely on,” said economist Holger Submitted by the bank Nordea.
economist Ralf circulation of Helaba’s downgraded the numbers of the Ifo despite the missed consensus estimates as a solid. “The fourth consecutive increase while underpinned the growth scenario, but given the political risks in Europe business expectations do not grow to the sky.” A trader saw this similar to: The slightly weaker-than-expected Ifo index should in particular the receipt of the possible ” Grexit “- Ukraine and its situation was, he commented
However, there are still some uncertainties in Greek drama. Thus, the Greek government has to prove how serious she means the agreement. “Everything we have is an agreement now to enter undoubtedly complex and painful negotiations,” said IG-market strategist Chris Weston.
Today Athens wants to submit a list of the first proposals for reform of the international donors. This is checked by the European Commission, the European Central Bank (ECB) and the International
Monetary Fund (IMF). On Tuesday, the euro zone finance ministers will want to discuss whether the current support program for Greece is extended. The crisis in Ukraine keeps the markets in suspense. Most recently was the agreement on a rapid withdrawal o f heavy weapons at least germinate cautious hope for a relaxation in eastern Ukraine.
On the corporate side stood out in the morning the papers of Aareal Bank. The proposed acquisition of Westdeutsche Immobilien Bank boosted shares of real estate financier and pushed it with a gain of 3.29 percent to 37.72 euros, the highest level since July 2007. Investors also reacted positively to the presented before the weekend numbers of Xing although the career network a massive impairment had verhagelt the balance sheet. Operationally, the Hamburg improved but clear. The shares climbed in the wake of around 3 percent.
According to the announcement of an investigation by the Federal Cartel Office, the shares of CTS Eventim collapsed by more than 8 percent. Checks are the business practices of the ticket marketer to determine whether it abused its market power.
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