Reuters Insider - Inside the News: Investors Upbeat On Stocks in Thin Trading

Baader Bank AG

13/06/2016 11:04

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 Source:             Thomson Reuters                                   
                                                                       
 Description:        Investor sentiment remains positive on the first  
                     trading day of the year, as U.S. stock index      
                     futures look set to open higher and European PMIs 
                     help to lift sentiment in thin trading.           
 
 
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Transcript (May be auto-generated)

                 It's 1330 GMT. Sentiment on the first trading day of the year is generally 
positive. No major theme running through markets though in London closed and 
volumes, very thin. European shares start the New Year on a high, Porsche up 
almost 15% after a US court dismisses accusations by a hedge fund that Porsche 
called at the market in Volkswagen shares. Germany's DAX up over 1%, Baader 
Bank's Robert Halver says it will hit 8,000 by the end of the year. It will be 
very volatile year at the equity markets. But I'm still confident that at the 
end of the year, the DAX will reach 8,000 points because the fundamental factors
are still very clear and nice. Look at the fundamental, very good economic 
trends, especially for Germany. That's a good support for the equity-side of 
Germany. 

Bunds paring earlier gains after surprisingly upbeat Euro zone PMI data. The 
Euro raises earlier losses to trade around $1.3350. And US Stock Index futures 
pointing to a higher open on Wall Street. Investors are waiting the ISM's 
manufacturing survey at 10AM Eastern. It's expected to show factory activity 
edging higher. More PMI data on the agenda for Tuesday, January manufacturing 
activity in the UK seen slipping. Markit's Chris Williamson will be here on 
Insider with the numbers, as always, two minutes ahead of the market. That 
follows German unemployment data, at 0900 GMT, expected to show 10,000 fewer 
people out of work. But the total jobless rate steady at 7.5%. 

And flash inflation data for the Euro zone out at 1000 GMT, likely to show 
prices rising at a faster rate in December than the previous month. In political
news tomorrow, China's Vice Premier Li will visit Spain. Meanwhile, the US envoy
for North Korea Policy, Steven Bosworth, will visit South Korea. US non-farm 
payrolls, the most hotly anticipated data this week, that's due on Friday. Fed 
Chairman Ben Bernanke will also testify before Congress also on Friday. We spoke
earlier on Insider to Investor Jim Rogers and asked him about the appointment of
Ron Paul to the House Banking Committee. I think it's going to take a whole lot 
more than Ron to sort out the Federal Reserve. Most people in America, if they 
even know what the Federal Reserve is, assume it's doing a good job. It's not; 
it's doing a disastrous job. But, old Ron will be able to do it, in my view, is 
to bring more publicity to the Federal Reserve and to its shortcomings, 
ultimately down the road. That would help solve the problem of the Federal 
Reserve. Jim Rogers there. Well, coming up on Insider, our Outlook 2011 Series 
continues with Ross Walker of RBS and Breakingviews' Robert Cole assessing what 
lies in store for the UK economy this year. I'm Steve Clarke. This is Reuters