European bourses are trading lower today as investors shifted their attention to political events in Europe.
DAX is trading lower today as political concerns arise in Europe, banking sector is now dragging down the Index. Source: Bloomberg
The Stoxx Europe 50 Index is trading now 0.61 below yesterday’s close as BNP Paribas SA, BNP.FR ticker on xStatnion5, is trading lower as the stock is trading without the rights to its regular dividend, now loosing 4.93 percent. Societe Generale SA, GLE.FR on xStation5, is trading 1.17 percent below yesterday’s close.
Deutsche Bank AG, DBK.DE on xStation5, loosing now 2.10 percent as investors are worried on slower exit from easy monetary policy from the European Central Bank. Looses among banking sector in Tuesday’s session is linked to Mario Draghi’s appearance in the European Parliament on Monday.
The euro is also under pressure as Draghi signaled yesterday that it is still too early to consider ending monetary stimulus. Greece’s finance minister said on Monday that its creditors have to reach an agreement on debt relief measures at a meeting next month. In addition, former Italian Prime Minister Matteo Renzi said to hold a national election in the same time as Germany does. With several elections already out of the way in Europe, Italy now presents the biggest political risk for markets as polling data shows there is little support for the euro in Italy.
DAX is now trading in a range between 12540 and 12771, data from the US economy could give an impulse for the index to break in any direction. Source: xStation5