DAX: With banking woes looming again, the prognosis is not bullish. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

DAX SHORT TERM TRADER: New short at 10445; stop above 11000. Target 9300.

DAX POSITION TAKER: Square.

Belated reaction To Monday’s data

With most returning from New Year celebrations, though not New Zealanders and Scotland who are off on holiday again today and the Japanese who only get back on Friday, Asian stock markets traded down today in reaction to Monday’s Chinese December Manufacturing Purchasing Managers’ Index which dipped to 49.4, the first reading below the 50 watershed since January 2016. Hardest hit has been Hong Kong where the Hang Seng lost 2.9 per cent (at the time of writing).

CNBC reports today that Italian market regulator Consob today suspended trading in the shares of troubled bank Carige. This is because we are expecting a statement on the bank’s governance after it failed to raise another €400 million from existing shareholders. The Genoa-based bank, and Italy’s 10th biggest, has been teetering on the edge with shares trading at a fraction of a cent of a euro.

Financial Markets and Political Commentary