Tuesday 12 August 2014

German stocks price in sanctions tail-risk

By Olaf Storbeck
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
The German economic mini-miracle is on hold. Thursday’s announcement of second quarter GDP, which was not affected by Russian trade hostilities, will probably show a decline from the weather-boosted beginning of the year. Investors are looking for worse. The 8.7 percent drop in the DAX stock index since July 3 puts it among the worst performers of major European stock markets.

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