06262016Sun
Last update: Sun, 26 Jun 2016 07am

Europe

Markets - Equity - Europe

West Africa Crude-Buyers put off by high Nigerian offers, BPCL awards tender LONDON: July loading Nigerian cargoes continued to clear slowly while Angolan Pazflor and Dalia traded swiftly. Africa's richest man Aliko Dangote said that he expected his refinery to be up and running by 2019 while almost doubling his cement production on the continent by adding plants in eight countries. Nigeria's currency, the naira, held steady at the end of its first week after being floated. It ended at 281 to the dollar. Dollar shortages have held back Nigeria's ability to import, particularly for gasoline, forcing it to engage in more crude for product swap deals. ANGOLA Pazflor continued to clear at strong differentials of around dated Brent plus $2.90 a barrel. Sonangol sold the Aug 7-8 Dalia it offered on Thursday at dated Brent minus $3.20 a barrel. Traders said the deal was done slightly lower. NIGERIA Just over 10 cargoes of July loading Nigerian crude were still available. * ...

Markets - Equity - Europe

London stocks close down 3.2pc, Paris 8.0pc, Frankfurt, 6.8pc LONDON: Shock news that Britain had voted to leave the European Union hit European stock markets hard on Friday, with London's FTSE 100 index recovering from early losses to close down 3.2 percent.The Frankfurt stock exchange suffered a 6.2 percent blow, while Paris slumped 8.0 percent, with Milan losing 12.5 percent and Madrid 12.4 percent.Copyright AFP (Agence France-Presse), 2016 ...

Markets - Equity - Europe

Shares in Italy's biggest banks dive after Brexit vote MILAN: Shares in Italy's two biggest banks, UniCredit and Intesa SanPaolo, tumbled more than 20 percent at the open on Friday after Britain voted to leave the European Union. UniCredit hit an all-time low of 2.052 euros, down almost 25 percent. Both UniCredit and Intesa shares were later suspended temporarily from trade. Copyright Reuters, 2016 ...

Markets - Equity - Europe

Stocks plunge, zloty near 4-1/2 year low on British vote to leave EU BUDAPEST: Central European currencies fell and stock markets plunged on Friday after Britain voted to leave the European Union, with the Polish zloty tumbling to a 4-1/2 year low against the euro and some stock markets to multi-year lows.Direct trade linkages with Britain account for 3-6 percent of the foreign trade of central eastern European countries, with the euro zone having a much bigger role.But Britain is still Poland's second-biggest export market, with its exports ...

Markets - Equity - Europe

Milan, Madrid stocks set for biggest fall ever after Brexit shock MILAN: Italy's and Spain's blue-chip equity indexes were both on track for their sharpest ever one-day drops on Friday, underperforming region wide equity slump following the UK's Brexit vote. Britain's shock decision to leave the European Union has reawakened concerns of ripple effects on the European continent, with some investors pointing to Italy as the next risk to watch, while Spain was due to hold a general election on Sunday. "In our view, the next ...

Markets - Equity - Europe

UK stocks brace for self-inflicted recession LONDON: British stocks are adopting the brace position ahead of what investors fear will be a self-induced recession.Shares in banks and housebuilders were among the hardest hit in the immediate aftermath of the country's decision to leave the European Union. The silver lining is that Britain's banking system is better equipped to deal with financial turmoil than a decade ago.As leveraged bets on the domestic economy, lenders like Royal Bank of Scotland and Barclays as ...

Markets - Equity - Europe

European shares sent reeling by Brexit shock; Italy, Spain underperform MILAN/LONDON: European shares, led by the region's banks, felt the full force of Britain's vote to leave the European Union on Friday, falling as much as 9 percent as shockwaves spread across global markets.Sterling hit a 31-year low in its biggest-ever fall while in Europe, the slide in stocks wiped off about 650 billion euros ($726 billion) from the market value of Europe's listed shares. The pan-European STOXX Europe 600 index fell 7.3 percent by ...