02132016Sat
Last update: Sat, 13 Feb 2016 11am

Europe

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 to 1,326.80 points, while the euro zone's blue-chip Euro STOXX 50 index fell 0.7 percent.Novartis fell 2.3 percent after its fourth-quarter core net income missed expectations, while BASF declined by 3.8 percent after issuing a profit warning."We're only just getting under way on the European earnings front, but it's been a pretty mixed bag so far with weak updates from Novartis and BASF," said Clairinvest fund manager Ion-Marc Valahu.Sweden's Ericsson dropped 6 percent, even after ...

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 ...

Markets - Equity - Europe

Britain's FTSE rebounds as battered mining stocks rally LONDON: Britain's top share index recovered ground on Tuesday as a rebound in oil prices and a rally in battered mining stocks lifted the market.The blue-chip FTSE 100 index was up 0.5 percent at 5,902.90 points just before the close of trading, although the index remained 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 ...