08282016Sun
Last update: Sun, 28 Aug 2016 03pm

Europe

Markets - Equity - Europe

Britain's FTSE underperforms European peers, miners hinder LONDON: Britain's blue-chip share index retreated on Wednesday, underperforming its European peers, as a sharp drop in metals prices put pressure on the mining sector and South Africa-exposed stocks fell as the rand slipped. The UK mining index was down 2.9 percent, the worst sectoral performer, after copper fell to an eight-week low as rising inventories in Asian warehouses fuelled concerns about weaker demand in top consumer China. Prices of some other industrial metals and gold also fell as the dollar strengthened. Randgold Resources, Antofagasta, Fresnillo and Anglo American fell between 3.1 percent to 5.1 percent. Glencore was down 3.1 percent with added pressure from its update showing a 13-percent drop in earnings. "Miners lost ground following weaker metals prices and a slump in Glencore profits. Given the recent strong run within the sector, some profit taking was not unexpected," Securequity senior trader, Jawaid Afsar, said. "However, it seems that ...

Markets - Equity - Europe

European shares rise, helped by banks; Glencore leads miners lower LONDON/MILAN: European shares rose on Wednesday, helped by a buoyant banking sector, while a disappointing update from British miner Glencore dragged the mining sector lower. The pan-European STOXX 600 index closed up 0.4 percent for its third straight session of gains. Glencore declined 3 percent after reporting a fall in underlying profit and lowering its debt target. "At certain levels (Glencore) may look pretty attractive for entry for a buy. However after the rally that ...

Markets - Equity - Europe

European equities mainly rise on German GDP LONDON: European stock markets mostly rose on Wednesday, shrugging off a largely downbeat session in Asia, with sentiment partly lifted by German economic growth data.Strong foreign trade and buoyant consumption drove Germany's economy, Europe's largest, to better-than-expected growth in the second quarter, federal statistics office Destatis said.Gross domestic product (GDP) grew by 0.4 percent between April and June, adjusted for seasonal, calendar and price effects -- twice as fast as analysts surveyed by Factset predicted. ...

Markets - Equity - Europe

Stocks ease, dollar holds ground as US rate bets abound LONDON: Stocks slipped on Wednesday while the dollar continued to claw back last week's losses as investors grappled with the prospect of a US interest rate increase in the months ahead coming amid continued uncertainty about the strength of the global economy.This uneasy balance helped push the US yield curve, the difference between 10-year and two-year yields, to its flattest in a month. A flattening yield curve is often seen as a harbinger of low ...

Markets - Equity - Europe

European shares gain, though Glencore leads miners lower LONDON: European shares rose on Wednesday, lifted by gains in Sweden's hygiene product maker SCA and British advertising group WPP, though an update from miner Glencore dragged the mining sector lower.The pan-European STOXX 600 index advanced 0.1 percent, recouping losses from earlier on in the session and on track for its third straight session of gains. Volumes were light.British miner Glencore dropped 4.9 percent after reporting a fall in underlying profit and lowering its debt ...

Markets - Equity - Europe

Britain's FTSE underperforms, hindered by Glencore LONDON: Britain's top share index fell on Wednesday, underperforming European peers as it was knocked by a drop in commodity firm Glencore after it reported a fall in earnings and adjusted its debt target.Glencore fell 4 percent, the top FTSE 100 faller, after it reported a 13 percent decrease in earnings, although it said that it was on track to sell assets and cut debt to a new, lower, target.Glencore remains up around 100 percent ...

Markets - Equity - Europe

European stocks rebound as euro slips, US curve flattens LONDON: European stocks edged toward consecutive daily gains for the first time in three weeks on Wednesday, drawing support from a weak euro as investors moved to price in a US interest rate rise, boosting the dollar.The earlier mood was more risk-averse, with the prospect of higher US rates in coming months amid uncertainty about the strength of the global economy dragging Asian stocks lower and flattening the US yield curve.The difference between 10-year and ...