09262016Mon
Last update: Mon, 26 Sep 2016 01am

Europe

Markets - FXMM - Europe

Sterling rises towards 7-year highs vs euro on upbeat BoE report LONDON: Sterling rose towards seven-year highs and gilt yields surged on Thursday after a Bank of England quarterly report said inflation would return to its target of 2 percent in two years' time, keeping alive expectations of a first rate hike in early 2016.Investors are starting to factor in a chance of the first hike in about 11 months' time, compared with 12 months before the report was released, based on the overnight sterling overnight interbank average rates.Sterling hit the day's high of $1.5340, up from $1.5226 beforehand, while sterling also firmed to 73.92 pence to the euro from around 74.47, nearly 0.6 percent stronger on the day. Sterling had hit a seven-year high of 73.85 pence on Wednesday.Long gilt futures fell 70 basis points to 119.85 while the 10-year gilt yield rose to 1.7360 percent, its highest since Jan. 5 and up 6 basis points on the day, as ...

Markets - FXMM - Europe

Emerging assets rally on Ukraine deal; naira the outlier LONDON: Russian assets rallied on Thursday after a ceasefire was agreed for eastern Ukraine, with other emerging-market currencies also rising off the multi-year lows they hit the day before.Leaders of Ukraine, Russia, Germany and France, as well as pro-Russian separatists fighting government forces in east Ukraine, put together the ceasefire deal, following 16 hours of talks in Minsk. It takes effect on Feb 15.If successful, the ceasefire offers hope for economic recovery in Ukraine. It ...

Markets - FXMM - Europe

Currencies, bonds fall on worries over Greece, Ukraine BUDAPEST: Central European assets fell on Wednesday before talks on Ukraine and a meeting of euro zone finance ministers to discuss Greek claims for a new deal on its debt.Hungary's forint also suffered after data showed the country's consumer price index fell an annual 1.4 percent in January, more than the 1.2 percent forecast by analysts, as the cost of fuel and household energy dropped.The figures fuelled expectations that Hungary's central bank would cut interest ...

Markets - FXMM - Europe

Euro drifts lower with focus on Greek debt talks LONDON: The euro eased on Wednesday ahead of a euro group finance ministers' meeting that is set to discuss Greece, with failure to find common ground about the country's debt burden set to keep investors edgy and price action choppy.The dollar, meanwhile, hit a one-month high against the yen, bolstered by a rise in Treasury yields. Trade was thin, though, with Japanese markets closed for a public holiday.In Europe, Greek Finance Minister Yanis Varoufakis attends ...

Markets - FXMM - Europe

Russian rouble weaker before Ukraine peace summit MOSCOW: The Russian rouble fell on Wednesday before talks aimed at bringing an end to fighting in eastern Ukraine, with analysts predicting volatile trading.At 0840 GMT, the rouble was 1.3 percent weaker against the dollar at 66.23 and 1.2 percent down at 74.96 versus the euro.Russia, Ukraine, France and Germany are to hold a summit in Belarus on Wednesday under a new Franco-German initiative to halt fighting in a war that has killed more than ...

Markets - FXMM - Europe

Sterling hits 7-year high vs euro LONDON: Sterling rose to its strongest against the euro since January 2008 in early trade on Wednesday, helped by a slightly stronger run of data that has prompted investors to bring back in bets for a rise in Bank of England rates to next February.A number of major banks have recommended selling sterling against the dollar in the past two weeks but the currency has proved fairly resilient, resisting a push below $1.50.On Wednesday, it ...

Markets - FXMM - Europe

Sterling hits seven-year high vs euro LONDON: Sterling rose to its strongest against a basket of currencies since the height of the 2008 financial crisis on Wednesday, extending a bullish run since the end of January in the face of calls for it to weaken.Manufacturing numbers on Tuesday were the latest in a robust data series that has underlined Britain's better performance on growth than most of Europe, prompting investors to wind back in bets for a rise in Bank of ...