+6% on the day .... Oooooo baby .... Hit me one more time;
DJ
"11:40 purchase manager index and US car sales hang heavy on DAX
Check a strong break-down on the daily chart: at 10 o'clock the weak purchase manager index for the euro-zone was published, and the stock exchange went clearly south: since then the DAX has been in range, losing 1% to 2.912 , Euro Stoxx50 with the most important shares from Europe gave up 1.2 per cent to 2.290. An exception is the Tec DAX, winning 1.4 per cent on 395 points, and thus following Nasdaq. Main winners in the DAX are TUI with an plus of 3,4 per cent, Metro add around 2,6 per cent. On the other side MLP and Bayer dropped 3 per cent, Telekom, Lufthansa and VOLKSWAGEN approximately 2 ½ per cent, DaimlerChrysler close to 2 per cent. Background for the minus in the cars are drops in sales USA - VOLKSWAGEN sold in April nearly 16 per cent, DaimlerChrysler nearly 6 per cent, with the mark Mercedes doing relatively well. One producer however had it very good with Americans: Porsche, that rises against the trend by well over 3 per cent. Bund Futures strong with 14 BPs in plus at 114,94, the euro continuing strong agaist the dollar at 12 40. Hans Joachim Vieweger, B5 Boerse
PS: ...and of course there'll be comments - "see, we showed them Krauts the power of the American consumer." Man... which consumer are they talking about - the two Dinks, each with their own Porsche? or some poor slob of J6P, who got his Toyota repo'd? |
