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DAX set for a lower opening following results from VW
A short while ago the Q3 results from the German automaker giant, VW were released and that data revealed what everyone already knows- the company is in trouble. Granted the profit figure of Euro 2.855 billion was just above 2.85 expected, but not by very much. Profits have simply slumped this year and the company is operating on a profit margin of just 3.6% and that leaves virtually no margin for error at all. So, the stock price has already been beaten up this year, but I doubt this report will help it much either. Hence, the VW share price is down more than 3% in the grey market ahead of the opening this morning and that is hampering the opening outlook for the DAX. The index closed lower yesterday, handing back 53 points, at 19,478 and it is right now priced to open lower today. The indication on that is currently at around 19,435
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