Stocks Slip in Electronic Trading
May 11, 2011
The weighted 30-share IBIS DAX index, which is based on prices in electronic trading, fell 7.80 points to settle at 2548.84 points. Trading remained mired amid continuing summer holidays, and volume was unchanged from Wednesday, observers noted. Positive first-half results by Daimler-Benz AG failed to fluster the market, as data came in as expected, traders said. Daimler fell 41 pfennigs to 80.85 marks a share. Revised data on U.S. gross domestic product for the second quarter and on new home sales were stronger than expected, traders noted. After the release, U.S. bonds and stocks suffered, putting slight pressure on German markets. German bonds, however, managed to hold their own, which inevitably saved German stocks from taking larger losses. The benchmark German 10-year 6.25% bond dated April 2021 was priced at 99.16 to yield 6.36%. That price is flat from Wednesday's. The losses in late electronic trading took place after a listless official floor-trading session on the Frankfurt exchange, which runs parallel to IBIS trade. The official DAX stock index that tracks prices in floor trading closed 3.10 points lower Thursday to 2560.06. The DAX and the IBIS DAX are composed of the same stocks and weightings, although they track trends in two separate marketplaces.
VastPress 2011 Vastopolis
