12 June, 2019
The GER30 traded higher and at close of business was at 12157.72 after German stock markets were closed for a holiday on Monday. There were fears that President Trump would slap Mexico with new tariffs, opening up another trade war front. The tariffs were set to take effect on Monday, but the U.S. suspended the tariffs, after high level talks helped defuse the latest crisis. As well, G-20 finance ministers agreed on a joint communique to reduce trade tensions. With President Trump and President Xi of China meeting at the G-20 summit in Japan in late June, we could see progress in the bitter trade dispute between the world’s two largest economies. In Germany car manufacturers were among the top performers. The winners of the day included Deutsche Bank, up 3.67%, BMW, gaining 1.14% Daimler, climbing 1.83% and Volkswagen rising 1.44%. The losers of the day included Adidas, down 1.13%, RWE AG ST, declining 0.83% and SAP, decreasing 0.35%.