DAX Futures Morning Update on 23 May

The DAX Futures is trading at 13,142.00  with a loss of -0.39% percent or  -52.00 point . The FTSE 100 Futures is trading at 7,844.00 with a loss of -0.45% percent or -35.50 point. The CAC 40 Futures is trading at 5,576.50  with a loss of -0.21% percent or  -12.00 point . The EURO Stoxx 50 Futures is trading at 3,555.00 with a loss of  -0.53%  percent or -19.00 point.

TODAY’S FACTORS AND EVENTS

Investors are keeping a watchful eye on Italy, as the country moves towards establishing a new government. Two euro-sceptic parties, the Lega Nord and the Five Star Movement have reached an agreement and requested approval to form a government from the country’s president. The platform issued by the parties calls for increased deficit spending and a review of European Union fiscal rules. So far, neither party has called for a referendum on Italian membership in the European Union or demanded that the EU cancel the portion of Italy’s debt that it holds. Still, Italy is the third largest economy in the EU (with Britain heading out the door), and any moves which will put Italy on a collision course with the EU could have a negative impact on investor sentiment towards the euro. On Monday, ECB governing council member Ewald Nowotny admitted that the political situation in Italy had “created a lot of nervousness,” but that the new government would be judged on its actions

PREVIOUS DAY ACTIVITY
 
For the day Germany’s DAX closed at 13,169.92 up with +0.71% percent or    + 92.20 point. the FTSE 100 closed at 7,877.45 up with +0.23% percent or  +18.28 point. France’s CAC 40 closed at 5,640.10 up with +0.046% percent or +2.60 point. 

WORLD MARKETS

For the day the Dow is trading at 24,834.41  with a loss of -0.72% percent or  -178.88 point. The S&P 500 is trading at 2,724.44  with a loss of -0.31% percent or -8.57 point. The Nasdaq Composite is trading at 7,378.46 with a loss of -0.21% percent or  -15.58 point.

In other parts of world, Japan’s Nikkei 225 is trading at 22,689.74 with a loss of -1.18% percent or  -270.60 point. Hong Kong’s Hang Seng is trading at 30,852.81  with a loss of -1.22% percent or  -381.54 point. China’s Shanghai Composite is trading at 3,169.68 with a loss of  -1.39% percent or  -44.67 point. India’s BSE Sensex is trading at 34,620.22  with a loss of -0.090% percent or  -31.02  point at 12:15 PM.