skip to Main Content
Get your free newsletter: Actionable insight each morning for self-directed investors. 
Home » News » Indices » DAX grazes 2016 peak as Germany business brush off Brexit

While the markets remained relatively placid there was still some big news from Europe this Tuesday morning.

Following a 2 year high German Ifo business climate figure the DAX has spent the day grazing a fresh 2016 peak, the index trading just under the 10800 mark as investors cheer the news that Germany is like so over the Brexit. It hasn’t been all good news from the Eurozone, however. After announcing it intends to cut 2600 jobs, as well as sell off €28 billion in bad debts, Monte dei Paschi (Italy’s oldest bank) went haywire, initially rising before plunging so much that trading had to be suspended. It is the kind of bitter pill the Italian banking sector as a whole better get used to taking if it wants to avoid being the biggest threat to the Eurozone’s stability.

Over in the UK there wasn’t much for the FTSE or pound to deal with; the former managed a 25 point increase, keeping it the right side of 7000, while the latter sat flat against both the dollar and the euro. It will be interesting to see what kind of reaction, if any, is garnered by Mark Carney’s speech this afternoon, sterling especially on the lookout for news that the Brexit impact may have been overstated.

Looking ahead to the US open and the Dow Jones looks set to keep its head above 18200, the futures pointing to a 20 point increase. While the US does see the latest CB consumer confidence reading during the afternoon, the main focus is undoubtedly on Apple’s fourth quarter earnings release, even if the company doesn’t report until after the market closes.

This article is not investment advice. Investors should do their own research or consult a professional advisor.

Connor Campbell

Connor Campbell

Connor joined Spreadex in 2014 as part of a newly expanded financial analyst team after graduating from the University of Southampton with an MA in English. His focus is on providing Spreadex's customers with up-to-date and informative news, and is responsible for the market analysis found on the Spreadex website.

Connor produces three daily market updates, a daily stock earnings preview, a weekly financial market preview piece every Friday, a round-up of all the big financial stories making the weekend press every Monday morning and regular stock market features.

Stocks in Focus

Here are some of the smaller companies we follow most closely. They represent significant growth stories in our view. Our in-depth reports detail why we like them.


Subscribe for more stories like this, 8am weekdays - for free!

Get your free daily newsletter: 

Thanks to our Partners

Our partners are established, regulated businesses and we are grateful for their support.

FP Markets
Back To Top