02092016Tue
Last update: Tue, 09 Feb 2016 10pm

Markets - Equity

Markets - Equity - Middle East & Africa

Egypt tumbles, follows global market rout; Saudi slips DUBAI: Egypt's stock market fell more than 2 percent in early trade on Tuesday, following global shares lower, while Riyadh's index slipped as local traders cashed out of speculative shares. Egypt's main index tumbled 2.1 percent. Palm Hills Development was down 3.0 percent and was the most heavily traded stock, after the real estate developer posted strong quarterly earnings early this week. Commercial International Bank, an Egyptian share favoured by international fund managers, retreated 3.7 percent. Egypt's central bank has been striving to maintain stability in the currency over the past several months, but foreign investors are still jittery about the possibility of a devaluation and the negative impact it would have on their investment returns and companies' earnings. Sources told Reuters that General Motors had temporarily suspended its operations in Cairo because of the hard currency shortage - a sign of how serious the country's economic slump remains. In ...


Markets - Equity - Europe

European shares steady after Monday's slump, sentiment fragile LONDON/MILAN: European shares steadied in choppy trade on Tuesday, underpinned by some positive earnings reports after suffering heavy losses in the previous session on persistent concerns over the health of the region's top banks.The pan-European FTSEurofirst 300, which slumped 3.4 percent on Monday, was up 0.03 percent by 1058 GMT after falling earlier in the day.Although the market was helped by gains in firms like Vestas that rose 5.9 percent after beating earnings forecasts, sentiment ...

Markets - Equity - Europe

European stocks struggle to bounce back from rout LONDON: European stock markets struggled Tuesday to find a solid footing after a massive sell-off worldwide as fresh fears for the banking sector sent traders hunting for safe investments.European indices were mostly lower heading into midday but losses were less sharp than evident during the previous session.Following heavy falls also on Wall Street, Asia picked up the baton Tuesday, resulting in Tokyo's main index plunging more than 5.0 percent as investors sought the safety of ...

Markets - Equity - Europe

European stock markets steady at open after rout LONDON: European stock markets steadied at the start of trading on Tuesday after sharp falls the previous session on banking sector worries and general concerns surrounding the global economy.London's FTSE 100 benchmark index rose 0.2 percent to 5,702.6 points compared with the close on Monday.In the eurozone, Frankfurt's DAX 30 index was virtually unchanged at 8,980.7 points and the Paris CAC 40 edged up 0.2 percent to 4,072.3.The Paris and Frankfurt exchanges had lost more ...

Markets - Equity - Asia

Tokyo stocks plunge more than 5pc in equity market bloodbath TOKYO: Tokyo shares plunged more than five percent Tuesday, extending a global equities bloodbath as a sharp rise in the yen hammered exporters and fears over the state of the global economy fuelled a rush to safe investments.The eye-watering fall -- the steepest in percentage terms since June 2013 -- came after US and European bourses tumbled, sparked by worries about the financial sector as global growth slows.Leading the losses in Tokyo were were Japan's ...

Markets - Equity - Australia

Australia shares hit 2 1/2 year trough, NZ down in line with global rout SYDNEY: Australian shares fell to a 2 1/2-year low on Tuesday, joining a slump in global markets as sliding oil prices weighed on energy stocks and concerns about the health of banks reignited worries over global growth. The S&P/ASX 200 index dropped 143.3 points, or 2.9 percent, to close at 4,832.1, its biggest percentage decline since Sept. 29 and its lowest finish since July 2013. The benchmark is now down 8.7 percent so far this ...

Markets - Equity - Middle East & Africa

Gulf bourses fall, following global shares lower DUBAI: Gulf stock markets fell in early trade on Tuesday, erasing the prior session's gains as risk appetite diminished following a slump in global shares. Dubai's index fell 2.2 percent with blue chips Emaar Properties and Emirates NBD, Dubai's largest bank by market value, each tumbling more than 3.0 percent.Abu Dhabi's benchmark was down 0.4 percent after closing flat on the previous day; large-cap lender First Gulf Bank fell 0.9 percent. Dana Gas retreated 2.1 ...