02132016Sat
Last update: Sat, 13 Feb 2016 03am

Europe

Markets - FXMM - Europe

Sterling index hits 15-month low as investors factor in rate cut risk LONDON: Sterling fell to a 15-month low against a basket of currencies on Thursday, as investors fretted about slowing global growth prospects and their impact on the UK economy, with some pricing in risks of an interest rate cut in Britain.British 10-year gilt yields slid to a record low of 1.2250 percent, before recovering to trade at 1.305 percent in afternoon trade. At its lowest, the 10-year gilt yield has shaved off nearly 75 basis points so far this year, and more than 35 basis points this week alone.Interest rate markets are not pricing in a Bank of England (BoE) rate hike until 2020. Sterling overnight interbank average rates - the very short-term interest rates which form the basis of lending costs to the economy - are pricing in the chance of a hike in five years' time.But some in the money market are factoring in a good chance of ...

Markets - FXMM - Europe

Russia's rouble weakens on lower oil after Fed comments MOSCOW: Russia's rouble weakened at Thursday opening, hurt by falling oil prices and low global risk appetite after comments by the Federal Reserve head on Wednesday failed to inspire markets.At 0745 GMT, the rouble was 0.6 percent weaker against the dollar at 79.01 and had lost 0.4 percent to 89.15 versus the euro. Brent crude oil, a global benchmark for Russia's main export, was down 0.6 percent at $30.66 a barrel on worries about a ...

Markets - FXMM - Europe

Sterling falls as unnerved investors flock to safe havens LONDON: Sterling fell to a 13-month low against the euro and plunged almost 3 percent against the yen to its weakest since 2013 on Thursday as unnerved investors fretted about global growth and sought out safe havens. The pound has shed around 10 percent against the single currency over the last two months on a push-back of expectations for Bank of England interest rate hikes, and as worries about a referendum on Britain's EU membership ...

Markets - FXMM - Europe

Sterling cuts gains against dollar after Yellen's comments LONDON: Sterling weakened against a rising dollar on Wednesday after prepared remarks from U.S. Federal Reserve Chair Janet Yellen suggested that interest rate hikes in coming months remain a possibility.Yellen said there are good reasons to believe the United States will stay on a path of moderate growth that will allow the Fed to pursue "gradual" adjustments to monetary policy.Earlier, sterling proved resilient to a poor batch of British industrial output data, rising to a ...

Markets - FXMM - Europe

Sterling slides as euro leans into banking storm LONDON: Sterling sank to a more than one-year low against the euro but gained against the dollar on Tuesday as a wave of global concern over banks and other financial firms extended into a second day, hammering stock markets on both sides of the Atlantic.Morning data in Britain had offered some support to the pound but analysts said trade was dominated by a reassessing and reweighting of portfolios by many major fund investors in the ...

Markets - FXMM - Europe

Yen near November 2014 highs, euro lags on banking worries LONDON: The yen rose on Tuesday to its highest against the dollar since November 2014, as a sell-off in global stocks and worries about Europe's banks stoked demand for safe-haven currencies. The euro underperformed. Although it has enjoyed a good correlation with safe-haven assets and currencies since last August, it dropped to its lowest in nearly two weeks against the yen and the Swiss franc, another safe haven. Europe's banking index fell 1 percent and ...

Markets - FXMM - Europe

Polish bank stocks lag rebound of Western peers BUDAPEST/WARSAW: Polish stocks lagged a rebound in some European equities markets on Tuesday ahead of a government meeting with bank executives to thrash out recent fee increases.The ruling Law and Justice (PiS) party which rules since November has warned that banks could act illegally if they pass on the cost of a planned tax to customers.A rise in the burden on Polish banks has pushed down the index of Warsaw-listed bank shares by more than ...