05292016Sun
Last update: Sun, 29 May 2016 04pm

Europe

Markets - Equity - Europe

European shares drop as mining stocks weaken, airlines fall LONDON: European stocks retreated on Thursday as weaker oil and metals prices put pressure on commodities shares and concern mounted that U.S. interest rates would be raised soon.Travel and leisure stocks fell after an Egyptair flight carrying 66 passengers and crew disappeared on a flight from Paris to Cairo .Shares in British holiday company Thomas Cook slumped nearly 17 percent, reaching their lowest since March 2013, after it said tourists were avoiding Turkey, its second-most popular destination last year.The pan-European FTSEurofirst 300 index was down 0.8 percent, erasing the previous session's gains. The basic resources sub-index fell 3.3 percent and the energy sub-index dropped 1.8 percent drop."The relief rally that started in February seems to be over now. We are in a difficult situation as we need growth and higher profits, but an improvement in the economy raises the risk of a U.S. rate hike sooner rather than later," said ...

Markets - Equity - Europe

Britain's FTSE falls as travel stocks suffer LONDON: UK shares fell on Thursday after the disappearance of an EgyptAir flight and a drop in summer bookings for Thomas Cook weighed on the travel sector, while mining shares also dipped.The blue chip FTSE 100 index dropped 1.4 percent to 6,082.29 points by 1101 GMT, underperforming the broader European market.British travel stocks came under pressure after mid-cap Thomas Cook slumped 16.6 percent to its lowest level since March 2013 after saying that summer bookings ...

Markets - Equity - Europe

Prospect of early US rate hike boosts dollar, bashes bonds LONDON: Revived prospects of an early U.S. interest rate rise, possibly as soon as June, lifted the dollar to a near two-month high on Thursday and left bonds, stocks, commodities and emerging markets all nursing losses.Minutes from the Federal Reserve's last meeting caught the market off-guard by revealing most policymakers thought a June rise would be "appropriate" if the U.S. economy continues its recent improvement.That suggested the central bank is closer to lifting rates again ...

Markets - Equity - Europe

European shares slip on US rate hike prospects; banks outperform MILAN/LONDON: European shares fell on Thursday as weaker oil and metals prices put pressure on commodities stocks and concern mounted that U.S. interest rates would be raised soon.However, bank stocks rose, buoyed by the prospect of rising U.S. rates. Minutes from the Federal Reserve's April meeting showed most of its policymakers thought a June increase would be appropriate if the U.S. economy continued to improve ."This more than expected hawkish tone from the minutes is ...

Markets - Equity - Europe

European stocks slide at open LONDON: European stock markets slid at the start of trading on Thursday following losses across Asia and on Wall Street after the Federal Reserve hinted at a June interest rate hike.London's benchmark FTSE 100 index slipped 0.7 percent to 6,119.99 points compared with Wednesday's close.Frankfurt's DAX 30 index shed 1.0 percent to 9,847.64 points and the Paris CAC 40 lost 0.6 percent to 4,292.25.Minutes from the Federal Reserve's April policy meeting released Wednesday suggested an ...

Markets - Equity - Europe

European stock markets recover, boosted by banks LONDON: European stock markets recovered from a weak start on Wednesday, with a rally in banks and a rebound on Wall Street helping to counteract some weak corporate earnings from companies including Switzerland's Sonova . The pan-European FTSEurofirst 300 index rose 0.8 percent to 1,325.78 points by the close, recovering from an early fall. Signs that inflation was returning to the US economy and hawkish comments from a Fed official had hit Wall Street on ...

Markets - Equity - Europe

World stock markets see bright side of US rate hike LONDON: Stock markets switched higher Wednesday as sentiment towards the possibility of a US rate hike changed to positive, with investors awaiting a fresh glimpse into the minds of Federal Reserve policymakers.Wall Street had fallen on Tuesday as strong US economic data fuelled talk of a rate rise as early as next month, with most Asian exchanges following its lead on Wednesday as did European markets initially.Higher interest rates are generally not positive for stock ...