http://news.yahoo.com/s/ap/20050918/ap_on_re_eu/germany_election Dax may have an interesting night tonight.
This is by far the worst scenario that one could imagine. Clear majority no matter on what side would have been better than that mess. Good night, Germany.
that is what i was thinking and so i put the link to the article -- there will be an under-the-table fight now {horse trading} to get a coalition in place --- this could take a while.
Here in Germany we were are to trade a sort of derivative on the Dax from 5 pm to 9 pm CET on this election sunday. The bank that calculates the DAX-quotes for these products saw the DAX at 5040 5 minutes prior to 6 pm. At 6pm the first estimates about the voting came in and the quote for the Dax dropped down to 4950 immediately. So I was short with one certificate, bought @ 0,20 Euros. I sold it at 0,30 Euros shortly before 6pm because I thought that's a nice profit. 5 minutes later it was at 1,10 Euros! :eek:
Indication for the Dax (Cash) is 4942 which is down from fridays Xetra closing of 4986 and the indication of the US closing (5010). IMO this is not the end of the drop. A black/yellow was expected and priced to perfection. Also, alternative energy companies should profit tomorrow (Solarworld should be the biggest gainer)....
You can see the real-time indication here. It will be updated until 9 pm CET. http://www.quotecenter.de/lang/detail_index.cfm?lus=0.25576565&