Europe
Thursday, 29 December 2011 23:22
287
LONDON: European shares advanced on Thursday as upbeat data from the United States helped fuel a low-volume rally in the afternoon, although volatility also rose as investors hedged against lingering uncertainty in the euro zone.
The Chicago PMI, a measure of financial activity and gauge of US business conditions, beat estimates, and pending home sales rose by much more than expected in November.
While the readings point to improvement in the US economic environment, which would support European corporate earnings, continued high borrowing costs at an earlier auction of Italian debt showed the market remains sceptical on a solution to the euro zone debt crisis.
The FTSEurofirst 300 index of top European shares closed up 1 percent at 992.78 points, although trading was once again light at one-third of its 90-day average.
However, the Euro Stoxx volatility index, based on sell- and buy-options on the Euro STOXX 50 and which traditionally has an ...
LONDON: A brisk start to post-Christmas sales in some European countries is unlikely to save retailers from more profit warnings and insolvencies as cash-strapped shoppers are only being tempted to open their purses by margin-crushing discounts.
Crowded stores in major economies like Germany and Britain will ease fears the euro zone's debt crisis could see consumers across the region cut back on everything other than essentials.
But analysts warn Europeans, who are seeing their disposable incomes squeezed ...
LONDON: Hungary has sold the first Removal Units (RMUs), a new type of Kyoto Protocol currency, two sources close to the deal confirmed, as the government seeks to diversify its carbon sales at a time of waning global demand for other types of emissions permits.
The two sources, speaking on condition of anonymity, would not give further details of the transaction, including the identity of the buyer, the quantity of RMUs sold or the price paid.
"An ...
MOSCOW: The rouble extended heavy losses against the dollar on Thursday after the central bank widened its trading band earlier this week, while stocks dipped on relatively weak manufacturing data and caution ahead of an Italian debt auction.
The central bank bruised the rouble by announcing a widening of its trading band by 100 kopecks to six roubles late on Tuesday, which implies the rouble now has more room to firm or to weaken.
The central ...
LONDON: European stock markets edged higher at the start of trading on Thursday in quiet holiday-week deals, but investor sentiment remained fragile before another Italian bond auction.
London's benchmark FTSE 100 index rose 0.21 percent to 5,518.94 points, Frankfurt's DAX 30 won 0.57 percent to 5,804.13 points and in Paris the CAC 40 added 0.34 percent to 3,081.17 points.
However, Asian markets mostly fell earlier on Thursday and the euro dived to an 11-month low under $1.29 ...
LONDON: European shares fell and the euro tumbled close to a one-year low against the dollar, as investors fretted over a crucial auction of long-term bonds by Italy on Thursday.
While Italy paid sharply lower rates on Wednesday to raise 9.0 billion euros ($11.8 billion) in a six-month bond sale, providing an early boost to equities, stocks and the euro later fell as investors looked ahead to Thursday's auction.
In late afternoon deals, the euro slumped to ...
LONDON: European stock markets held steady at the start of trading on Wednesday in light holiday trade, with London's benchmark FTSE 100 index up 0.16 percent to 5,521.66 points.
Frankfurt's DAX 30 eased 0.23 percent to 5,875.87 points and in Paris the CAC 40 slipped just 0.03 percent to stand at 3,102.24 points.
Copyright AFP (Agence France-Presse), 2011 ...
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