07272016Wed
Last update: Wed, 27 Jul 2016 10am

Europe

Markets - Equity - Europe

ARM lifts European shares after bid by SoftBank LONDON: European shares rose on Monday, boosted by a surge in ARM to a record high after Japan's SoftBank agreed to buy the chip designer at a premium of more than 40 percent to Friday's closing price.ARM was up 43 percent to 1,700p after SoftBank agreed to buy the British company in a 24.3 billion pound ($32.2 billion) deal.The deal will see SoftBank pay 1,700p for every ARM share, and the Japanese firm said it would double ARM's UK staff and keep its headquarters in Cambridge.ARM added 28 points to the FTSE 100, which was up 0.6 percent, and contributed almost three-quarters of the index's rise.Sterling's fall to its lowest in more than three years against the yen made ARM more attractive to SoftBank, and shares in ARM, which derives most of its earnings in dollars, have risen nearly 17 percent since Britain voted last month to leave the EU."An ...

Markets - Equity - Europe

Britain's FTSE boosted by surge in ARM after SoftBank deal LONDON: UK shares opened higher on Monday, buoyed by a jump in ARM Holdings' after Japan's SoftBank Group Corp agreed to buy the British chip designer.SoftBank agreed a deal worth 24.3 billion pounds ($32.2 billion), sending ARM Holdings shares up 42.9 percent to a record high."An increase in inbound M&A was one of the obvious consequences of Brexit and weakened sterling but few expected it to manifest itself so quickly or at so large a ...

Markets - Equity - Europe

European stocks hesitant at open LONDON: Europe's main stock markets opened little changed Monday, with investors shrugging off the failed coup attempt in Turkey at the weekend.London's benchmark FTSE 100 index dipped 0.2 percent from Friday's close to 6,657.32 points.In the eurozone, Frankfurt's DAX 30 added 0.1 percent to 10,079.03 points and the Paris CAC 40 edged up 0.6 percent to 4,375.09.Markets appear to have been reassured by the failure of the military coup in Turkey at the weekend and ...

Markets - Equity - Europe

European stocks downbeat on Nice attack LONDON: Europe's main stock markets ended the week on pause Friday, with downbeat sentiment over the deadly Nice truck attack offsetting Wall Street records and positive Chinese data.Airline stocks slid after a gunman late Thursday smashed a truck into a crowd in the French resort of Nice, killing at least 84 people in what President Francois Hollande declared a "terrorist" attack.Accor Hotels led losers on the Paris market in shedding three percent as the French ...

Markets - Equity - Europe

European stocks fall at open after Nice attack LONDON: Europe's main stock markets fell at the open on Friday, with sentiment hit by the fatal Nice truck attack according to traders, offsetting Wall Street records and positive Chinese data.London's benchmark FTSE 100 index dropped 0.2 percent to 6,641.75 points compared with the close on Thursday.In the eurozone, Frankfurt's DAX 30 slipped 0.4 percent to 10,031.18 points and the Paris CAC 40 shed 0.4 percent to 4,367.43."In focus today will be last night's tragic ...

Markets - Equity - Europe

Bond yield slump, low rates highlight UK pension shortfall risks LONDON: A $500 billion gap in British company pension schemes, exacerbated by a further fall in bond yields after last month's Brexit vote, is stretching balance sheets and could discourage investors from buying some firms' shares.The collapse in bond yields, which pension funds rely on for income to pay retirees, has left the near-5,000 underfunded pension schemes in the UK in an even worse position and has sharpened investors' focus on the companies most at ...

Markets - Equity - Europe

London dips, European stocks rally British rates held LONDON: A Bank of England decision to leave rates unchanged at its first meeting since Britain voted to quit the EU left the London market unimpressed Thursday although European stocks finished higher.All eyes were on London after the appointment of a new British finance minister and with traders waiting to see if the Bank of England would cut its main interest rate to a new record-low level under 0.50 percent.In anticipation of a possible rate ...