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Last update: Thu, 11 Feb 2016 01am

Markets - Equity

Markets - Equity - Europe

European stocks drop as AbbVie reviews Shire takeover LONDON: Europe's main stock markets fell sharply on Wednesday, with London rocked after US giant AbbVie said it would review its $54-billion blockbuster takeover of Shire Pharmaceuticals.Oil companies also sank as traders fretted over plunging crude prices, which hurts profits in the energy sector.Nearing midday, London's benchmark FTSE 100 index lost 1.02 percent to 6,327.19 points compared with its closing level on Tuesday. Frankfurt's DAX 30 slid 0.63 percent to 8,769.72 points and the CAC 40 in Paris shed 0.56 percent to 4,064.34.Paris and Brussels were heading for a showdown as deficit-ridden France on Wednesday would submit its 2015 budget which exceeds the EU deficit ceiling with an expected shortfall of 4.3 percent of annual economic output."We expect a compromise to be reached that forces slightly more austerity onto France but also hastens the pace of vital labour market reforms," said Jennifer McKeown, senior European economist at Capital Economics.In foreign ...


Markets - Equity - Europe

Rouble hits new low, stocks sag as falling oil burns LONDON: Russian and Middle Eastern markets remained under heavy pressure on Wednesday as another dive in oil prices - their main revenue earner - sparked new selling, while slowing global inflation pushed some emerging market bond yields to new lows.As oil slid towards $80 a barrel, the rouble dipped to its weakest level on record, Russian government borrowing costs hovered at a five-year high and shares in Moscow fell to near their lowest level since ...

Markets - Equity - Europe

Europe shares hovers above recent low; oils hit as crude drops PARIS: European stocks fell on Wednesday, with a benchmark index hovering above an eight-month low hit in the previous session, as brewing concerns over the strength of the global economy continued to spook investors.However, reassuring results from two bellwethers, food giant Danone and luxury group LVMH, helped soothe worries over the outlook for corporate results in Europe as the earnings season kicks off.Shares in Danone rose 3.4 percent after it posted a better-than-expected rise in ...

Markets - Equity - Europe

FTSE slips as Shire knocks down healthcare sector LONDON: Britain's top share index dropped towards a 15-month low on Wednesday as pharmaceutical stocks were felled by U.S.-based AbbVie's decision to reconsider its $55 billion takeover bid for Shire.Shares in Shire plummeted 26.5 percent after AbbVie said it was reassessing its takeover plan following the U.S. government's recent move to curb deals designed to reduce tax.Shire took the most points off the blue-chip FTSE 100 index , which was down 1 percent. Other sectors ...

Markets - Equity - Europe

Bond yields, oil prices fall as gloom persists LONDON: Persistent fears over the health of the global economic recovery kept bond yields and oil prices falling on Wednesday, with stocks also failing to break their recent losing streak.Market volatility has surged in recent weeks as investors weigh the timing of expected interest rate increases, especially in the United States, against disappointing macroeconomic signals such as a worse-than-expected inflation reading from China.Investors sought refuge from cooling economic activity in safe-haven government bonds across the ...

Markets - Equity - Europe

Greek stocks drop sharply on political jitters, bond yield spike ATHENS: Greek stocks succumbed to a second day of selling pressure, shedding more than 5.0 percent on Wednesday, with traders citing political uncertainty jitters and a spike in Greek bond yields.At 1144 GMT, the Athens stock exchange's benchmark index was losing 5.1 percent at 899.65 points, with index heavyweight banks shedding 4.35 percent.Stocks fell 5.7 percent on Tuesday."Selling pressure is still on, prompted by political uncertainty and the spike in bond yields," said Theodore Krintas, ...

Markets - Equity - Asia

Hong Kong, Shanghai stocks up after China inflation data HONG KONG: Shares in Hong Kong and Shanghai rose on Wednesday as data showing Chinese inflation easing raised hopes the mainland government will introduce economy-boosting measures.The Hang Seng Index in Hong Kong added 0.40 percent, or 92.08 points, to close at 23,140.05 on turnover of HK$62.22 billion ($8.03 billion).China's National Bureau of Statistics said the consumer price index (CPI) fell to a five-year low of 1.6 percent in September from 2.0 percent the previous month ...