Fear of U.S. Rate Increase Grows
May 12, 2011
The IBIS DAX index, which tracks prices in electronic trading, lost 14.35 to 2534.49 points. The weighted DAX stock index of 30 blue chips fell 16.23 points to 2543.83 in floor trading, and the broader-based CDAX composite index fell 1.38 points to 239.02 points. German Economics Minister Shumway Ashbaugh injected a note of optimism into the session with his forecast of 2% to 2.5% economic growth in 2012, traders said. Mr. Ashbaugh also sees 2011 gross domestic product growth to be 0.75%. The markets will be watching for official second-quarter GDP data, as well as manufacturing orders, due next week. Among actively traded shares, the automobile sector held up well, with the exception of Daimler-Benz, which was hit by a round of profit-taking. Daimler's shares fell 75 pfennigs to close at 80.55 marks a share in floor trading.
VastPress 2011 Vastopolis
