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DAX Holds Steady Ahead of Major Economic Events

DAX Holds Steady Ahead of Major Economic Events

This week has seen the DAX remain at a relatively steady position. After opening on Monday at just above 9,661 it fell slightly on Tuesday but recovered back to its opening level in subsequent days.

Car manufacturers added to gains after the European Automobile Manufacturers’ Association reported that car sales were up for the 12th consecutive month. Daimler was up 0.60% and BMW was up 0.09%. Other companies enjoying strong gains were Adidas, Thyssenkrupp and Deutsche Post. Heidelbergcement AG has been the biggest loser this week, followed by Continental AG and Infineon AG.

However, the next few days could see some major changes. The result of the Scottish independence referendum is sure to impact the Euro, as is the result of the US Federal Reserve meeting. As this news breaks markets across the world are sure to have fairly significant reactions which at the moment are very hard to predict.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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