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17 Sep 2013
Flash: European tone relaxed in build up to key German elections - Deutsche Bank
FXstreet.com (Barcelona) - Jim Reid of Deutsche Bank notes that the tone was a bit more positive in the European session yesterday especially in Germany where the DAX (+1.2%) hit an all-time high.
Key Quotes
“News that Merkel’s conservative allies had won convincingly in the weekend’s Bavarian state elections probably added to the Summers-inspired rally.”
“In an interesting move the UK government launched a small 6% selldown in its stake in part nationalised Lloyds Banking Group. The Lloyds sale will be an interesting test case as to how successful governments might be in winding down their stakes in UK/European banks.”
Key Quotes
“News that Merkel’s conservative allies had won convincingly in the weekend’s Bavarian state elections probably added to the Summers-inspired rally.”
“In an interesting move the UK government launched a small 6% selldown in its stake in part nationalised Lloyds Banking Group. The Lloyds sale will be an interesting test case as to how successful governments might be in winding down their stakes in UK/European banks.”