08242016Wed
Last update: Wed, 24 Aug 2016 09am

Europe

Markets - Equity - Europe

European shares fall as UniCredit leads banks lower after tests MILAN: European shares closed lower on Monday, dragged down by banks such as UniCredit and Raiffeisen that performed poorly in a Europe-wide stress tests. The pan-European STOXX 600 and the FTSEurofirst 300 index both closed 0.6 percent weaker. The STOXX 600 banking index fell 1.8 percent, reversing earlier gains and giving back a rally seen in the previous days as enthusiasm for the results of the stress test, which delivered little negative surprises, was short-lived. Austrian bank Raiffeisen, which emerged among the four worst perfomers in the tests along with Monte dei Paschi, Banco Popular and UniCredit, fell 5 percent. UniCredit slumped 9.4 percent as the poor showing in the tests highlighted the need for Italy's biggest bank by assets to strengthen its capital, while Banco Popular fell 5.9 percent. "The stress test results confirm the necessity for UniCredit to reinforce its capital position," Banca Akros analyst Luigi Tramontana said ...

Markets - Equity - Europe

Weaker banks and energy stocks drag FTSE to two-week closing low LONDON: Britain's blue-chip share index hit a two-week closing low on Monday, with energy stocks slipping on weaker crude oil prices and banks losing ground following the results of the European Union's stress test. Housebuilders also fell after a survey showed that British manufacturing shrank at its fastest pace in more than three years in July. Taylor Wimpey, Berkeley Group, Barratt Developments and Persimmon fell 2.8 to 4.5 percent. The benchmark FTSE 100 index closed ...

Markets - Equity - Europe

Global stocks hit highest in a year as US rate hike chances fall LONDON: Global stocks hit their highest in almost a year on Monday as investors pared back expectations of when US interest rates would rise, while the dollar rose against the yen but held close to lows hit after weak US growth data on Friday.European shares rose, led by miners, but with banks in focus after the results of stress tests on 51 European Union lenders were published late on Friday.The pan-European STOXX 600 index rose ...

Markets - Equity - Europe

European shares little changed; UniCredit leads weak banks sectors after tests MILAN: European shares were little changed on Monday, with higher mining stocks offset by losses in banks such Raiffesen and UniCredit which performed poorly in a Europe-wide stress tests.By 0845 GMT, the pan-European STOXX 600 index was up 0.1 percent, while the FTSEurofirst 300 also rose by the same amount.The STOXX 600 banking index fell 0.9 percent, reversing earlier gains as enthusiasm for the results of stress which delivered little negative surprises was short-lived.Austrian bank ...

Markets - Equity - Europe

Britain's FTSE rises, though Barclays, RBS fall after stress test LONDON: UK shares rose on Monday, led higher by a rise in mining stocks, though British banks Barclays and Royal Bank of Scotland fell following the results of the European Union's stress test.The UK's FTSE 100 index was up 0.2 percent at 6734.29 points by 0909 GMT, having posted its second monthly gain in a row in July.The British banking sector retreated 0.6 percent as shares in Barclays and Royal Bank of Scotland fell 2.6 ...

Markets - Equity - Europe

Deutsche Boerse says acceptance of LSE deal reaches 63.7pc FRANKFURT: Deutsche Boerse reported on Friday an acceptance rate of 63.65 percent for its offer to merge with the London Stock Exchange after the offer ran out on Tuesday. Deutsche Boerse had already said on Tuesday that backing from its shareholders for the $27 billion merger had reached the minimum level of 60 percent.The company said on Friday that shareholders who had not yet tendered their stock could do so during an extended acceptance period ...

Markets - Equity - Europe

European stocks open mixed on BoJ news LONDON: European stocks diverged at the open Friday in subdued deals as traders expressed disappointment at the Bank of Japan's "moderate" stimulus announcement.In initial deals, London's FTSE 100 index slid almost 0.1 percent to 6,716.38 points compared with the close on Thursday.In the eurozone, Frankfurt's DAX 30 firmed 0.5 percent to 10,320.82 points and the Paris CAC 40 added just 0.2 percent to 4,429.49."A moderate stimulus package from the Bank of Japan overnight got the ...