12092016Fri
Last update: Fri, 09 Dec 2016 12pm

Business & Finance - Managed Funds

Euro zone bonds yields head back down after ECB LONDON: Most euro zone government bond yields fell in early Friday trade, reversing increases made the previous session after the ECB reduced its asset purchases but promised protracted stimulus to support a recovery. Catching markets off-guard on Thursday, the ECB said its bond buying would be cut to 60 billion euros a month from 80 billion euros starting in April, but would go on at least until the end of 2017, three months longer than expected.Most euro zone bonds sold off on Thursday but recovered early on Friday.Bond yields across the euro zone were 2 to 4 basis points lower. Germany's two-year Schatz yield gave up an early rise to trade 1 basis point lower on the day at minus 0.74 percent.Copyright Reuters, 2016


Business & Finance - Banking & Finance

French central bank trims growth forecasts, citing Brexit PARIS: The French central bank trimmed its growth forecasts for 2016 and 2017 on Friday, citing a deterioration in the global economy and Britain's decision to leave the European Union."The outlook is in particular suffering from less favourable external demand in relation to France, notably because of the impact of Brexit," the Bank of France said in a statement.It revised its 2016 and 2017 growth forecast down to 1.3 percent having previously expected growth of ...

Business & Finance - Banking & Finance

Credit Agricole readies debut senior non-preferred bond NEW YORK: French bank Credit Agricole is arranging calls with Asian, European and US fixed income investors for its debut senior non-preferred bond issue, the bank said on Thursday. A euro or US dollar deal will follow, subject to market conditions and the promulgation of the French law covering senior non-preferred instruments. Copyright Reuters, 2016

Business & Finance - Banking & Finance

ECB did not discuss winding down bond purchases: Draghi FRANKFURT AM MAIN: ECB chief Mario Draghi on Thursday denied the bank was preparing to wind down its massive bond-buying programme, a crucial part of its unprecedented stimulus efforts to bolster the euro area's still fragile recovery."Tapering has not been discussed," Draghi told reporters after the bank surprised markets by announcing an extension of the asset-purchasing scheme until December 2017, but at a lower pace of 60 billion euros a month from April instead of ...

Business & Finance - Banking & Finance

ECB surprises markets with bond buying slowdown FRANKFURT AM MAIN: The European Central Bank on Thursday extended its mass bond-buying programme to underpin a eurozone economy rattled by political uncertainties, but surprised markets by slowing the pace of its asset purchases.Sluggish growth, below-target inflation, the election of Donald Trump, and the resignation of Italian Prime Minister Matteo Renzi prompted most observers to predict quantitative easing would be extended beyond its March 2017 expiry date.But the bank caught investors off-guard by saying it ...

Business & Finance - Industries & Sectors

Carlos Slim's Telekom Austria to buy Croatia's Metronet ZURICH: Telekom Austria Group said on Thursday it had agreed to buy a controlling stake in Croatian communications and computing group Metronet Telekomunikacije, which last year generated revenues of around 28 million euros ($30.2 million). Mexican tycoon Carlos Slim bought a majority stake in Telekom Austria in 2014 in order to use it as a stepping stone for expansion in eastern Europe. Telekom Austria bought the stake for an undisclosed price from current owners including ...

Business & Finance - Banking & Finance

Serbia's central bank keeps benchmark rate at 4.00pc BELGRADE: Serbia's central bank kept its benchmark interest rate unchanged at 4 percent on Thursday as expected, amid uncertainty over US Federal Reserve policy and other economic developments abroad.All 13 analysts and traders polled by Reuters this week and last said the Serbian bank would hold rates.The Fed meets next week, and any US rate hike would weaken investor demand for Serbian and other emerging market assets.The bank had left the rate, unchanged last month ...