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Frankfurt The agreement reached Tuesday in the asylum litigation left investors in the German stock market take a deep breath. "The dreaded collapse of the CDU / CSU Union has thus been avoided," commented Martin Utschneider's expert at Bank Donner & Reuschel. He pointed out worries about the weakening of the Chinese economy and the fall of the national currency as well as the escalation of the trade dispute between the United States and China
l & # 39; German leader Dax, which had temporarily increased by more than one percent. finally with a gain of 0.9% to 12,349 points. For MDax, it increased by 0.8% to 25,877 points. The TecDax technology index rose 1.4% to 2,705 meters
In the Dax, Allianz shares were among the favorites of investors with a gain of more than 3%. At the end of September, the Munich insurance company intends to buy back its own shares worth a billion euros.
Merck KGaA recorded gains of 0.8%. The pharmaceutical and chemical company wants to bring back its branding activities with specialty materials on the road to growth in the coming years.
Commerzbank's share has risen by about one percent thanks to the progress of the group's restructuring, but has again dropped much of the price gains. The EMC division, in which the company regroups its activities with equity derivatives and exchange-traded funds, is sold as planned to the French bank Société Générale
In the SDax of the smaller capitalization companies, the Grenke shares increase by more than 3%, They took advantage of the fact that the leasing provider was increasing its annual forecast for new leasing business.
In the United Kingdom, Glencore's shares were at the center of investors. US investigations into suspicious payments in Nigeria, Congo, and Venezuela are worrying commodity trader Glencore. Meanwhile, equities fell by almost 12% and were sometimes the biggest loser of the UK's leading index.
The US subsidiary received a summons from the Justice Department in Washington, the company said Tuesday. He has been dealing with cases since 2007. The badignment is under review. US laws criminalize the payment of bribes abroad. Glencore said it paid about $ 308 million to Congo in 2017. In Nigeria, the group bought crude oil worth more than $ 94 million.
Subject: Market Reports
The failure of oil deliveries from Canada and Libya temporarily boosted prices. Only in the evening, prices fell again. The North Sea oil Brent costs about $ 77 a barrel, $ 73 a barrel
The Syncrude production plant in Fort McMurray, Alberta, Canada, where 360,000 barrels of sand are mined every day a year. power failure paralyzed. Presumably, there will be funding according to the operator for a few weeks there, since the situation must now be examined. Ongoing political clashes in Libya are causing export losses of about 850,000 barrels a day.
The euro rose slightly on Tuesday. During trading, the common currency cost $ 1.1658, a little more than the morning. The European Central Bank (ECB) set the reference rate at 1.1665 (Monday: 1.1639) dollars. The dollar cost 0.8573 (0.8592) euros
A completely different picture emerged with the Turkish lira, which underwent considerable pressure during the day. The trigger was new data on inflation. In Turkey, inflation has risen to more than 15% in June, its highest level since 2003. High inflation rates often weigh on the exchange rate as they can slow down inflation rates. investments. In Turkey, President Recep Tayyip Erdogan announced his intention to increase monetary policy in the future. Erdogan rejects interest rate hikes, the clbadic instrument of fighting inflation.
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