02092016Tue
Last update: Tue, 09 Feb 2016 06am

Europe

Markets - Equity - Europe

Stocks, dollar struggle ahead of Fed as oil falters LONDON: European stocks succumbed to another slide in oil prices on Wednesday as markets waited cautiously to see what the Federal Reserve's reaction will be to what has been a brutal start to the year for world markets.Asian and particularly Chinese bourses ended stronger than they started but that could not prevent the pan-European FTSEurofirst 300 falling just over 0.5 percent in early trading.There was still some grogginess after gadget giant Apple forecast its first revenue drop in 13 years on Tuesday, but the main pressure was once again from oil which sank back towards $30 a barrel following its latest attempt at a bounce.Brent was down 2 percent at $31.12 per barrel with U.S. crude 3 percent lower at $30.50. Currencies followed a familiar dance, with the dollar down against the yen, although it gained less than usual against oil-linked peers like the rouble.Bond markets were firmly focused on ...

Markets - Equity - Europe

European shares pushed down as weak earnings weigh on markets LONDON: European shares fell on Wednesday, hit by a drop in Swiss drugmaker Novartis and German chemicals company BASF after their weak earnings updates.Royal Bank of Scotland also dropped after the bank warned its profits would be hit by a pension charge and U.S. litigation provisions.A forecast of lower revenues from iPhone maker Apple also hit European technology and chipmaker stocks such as ARM and Dialog.The pan-European FTSEurofirst 300 index was down by 0.7 percent ...

Markets - Equity - Europe

Shares in Italian banks lifted by hopes on bad loan scheme MILAN: Shares in most of Italy's leading banks rebounded on Tuesday as investors bet a meeting between Italy and the EU would shed more light on a scheme to help lenders to offload bad loans. Merger talks between Italian cooperative lenders were also supporting some of the stocks, analysts said. Rome and Brussels have been talking for almost a year over measures to help banks sell some of their 201 billion euro ($218 billion) non-performing ...

Markets - Equity - Europe

Britain's FTSE stages mini-bounce as battered mining stocks rally LONDON: Britain's leading share index ended higher on Tuesday, lifted by an oil-price rise a knock-on rally in battered mining stocks. The blue-chip FTSE 100 recovered from and early decline to finish 0.6 percent up at 5,911.46 points, although the index remains down 5 percent since the start of 2016. Concerns about a slowdown in China, the world's No. 2 economy and a major consumer of oil and metals, have hit world stock markets this ...

Markets - Equity - Europe

Commodities stocks help European shares to close higher MILAN: European stocks gained on Tuesday after early losses, with commodities stocks rebounding after oil rose towards $31 on hopes of an agreement to deal with supply glut and metals prices gaining ground on speculative buying. The STOXX Europe 600 Oil and Gas index rose 2.4 percent after oil prices rose on expectations that OPEC and non-OPEC producers may be edging closer to a deal. The Organization of the Petroleum Exporting Countries is making renewed ...

Markets - Equity - Europe

Russian stocks bob higher as oil rebounds MOSCOW: Russia's stock exchange rallied Tuesday evening, recovering its morning losses as oil bounced back above $30, with the ruble also recovering. The dollar-denominated RTS index, which had fallen by 3.5 percent at the opening, recovered to show a gain of 0.22 percent at the closing bell.Micex, a ruble-denominated exchange, closed down by 0.67 percent, however.Russia's battered ruble weakened to around 82 to the dollar on Tuesday morning before strengthening to 78.7 rubles. It was ...

Markets - Equity - Europe

Equities follow oil prices higher LONDON: Stocks chased crude prices on Tuesday, with Shanghai falling sharply as oil slumped in Asian trading, but a later rebound in the price for black gold sent equities higher in Europe and the United States."Oil prices continue to be the dominating driver of stock market direction," said market analyst Jasper Lawler at CMC Markets UK.After dropping under $30 in Asian trading, crude futures were later back above the psychological threshold with solid daily gains ...