05282016Sat
Last update: Sat, 28 May 2016 02pm

Europe

Markets - FXMM - Europe

Sterling falls as services data fuels concern on UK economy LONDON: Sterling fell against the dollar for a third straight day on Thursday after a key services sector report added to concerns that the economy is stumbling in the run-up to a vote on whether Britain should quit the European Union.The pound has lost ground this week, retreating from a four-month high struck on Tuesday, after poor surveys of manufacturing and construction highlighted the economic risks posed by the June 23 referendum.A PMI survey showed that Britain's services sector grew at its lowest rate in more than three years in April, according to Markit's services activity index. The index fell to 52.3 in April from 53.7 in March, below even the lowest forecasts in a Reuters poll of economists.Markit added that if last month's weakness persists, overall British growth may be just 0.1 percent in the second quarter, down from quarterly growth of 0.4 percent in the first three months ...

Markets - FXMM - Europe

Russian rouble regains ground with oil MOSCOW: The Russian rouble rose on Thursday, boosted by the oil price which has regained ground after falling earlier in the week. At 0725 GMT, the rouble was 0.9 percent stronger against the dollar at 65.94 and had gained 1 percent to 75.69 versus the euro. The rouble had fallen over 2 percent against the dollar early on Wednesday, the first day after a long holiday weekend during which the oil price had slid, but ...

Markets - FXMM - Europe

Sterling steady around $1.45, awaits UK services survey LONDON: Sterling steadied on Thursday, having suffered two days of losses, with investors awaiting a key services sector report for more clues on the economy which appears to be stumbling just months before a vote on Britain's future in the European Union.The pound has lost ground this week, retreating from a four-month high struck on Tuesday, after poor surveys of manufacturing and construction highlighted the economic risks posed by the June 23 referendum on the ...

Markets - FXMM - Europe

Turkish lira hammered as political turmoil rattles investors ISTANBUL: The Turkish lira remained under pressure Thursday as political uncertainty rattled investors after it emerged Prime Minister Ahmet Davutoglu is set to step down in a move giving President Recep Tayyip Erdogan even more power.The lira lost almost 4 percent in value against the dollar on Wednesday -- its heaviest daily loss this year -- as news broke that crisis talks between Davutoglu and Erdogan had failed to resolve tensions between the two men.After ...

Markets - FXMM - Europe

Forint eases as some sell bonds, pricing out rate cuts BUDAPEST/WARSAW: The forint eased on Wednesday, bucking a mostly firming regional trend on a renewed bout of selling of Hungarian government bonds after the central bank tempered expectations of further rate cuts.The bank signalled on Thursday that market hopes for further interest rate cuts were excessive and its easing cycle was near its end. That triggered profit-taking in Hungarian bonds, which also weighs on the forint.The forint was down 0.1 percent at 0754 GMT as ...

Markets - FXMM - Europe

Turkish lira's April real effective exchange rate highest in a year ANKARA: The consumer price index-based real effective exchange rate of the Turkish lira rose to 100.81 in April, its highest level in a year, from a revised 100.23 in March, central bank data showed on Wednesday. The rate measures the weighted average of domestic prices relative to those of Turkey's trading partners. In September, the rate had hit the lowest level since January 2003. Copyright Reuters, 2016 ...

Markets - FXMM - Europe

Sterling stumbles after poll shows Brexit camp in lead LONDON: Sterling slipped to a two-week low against the euro on Tuesday after a poll showed the campaign for Britain to exit the European Union ahead of the rival "In" camp. The pound had already been trading weakly, knocked by a poor survey of manufacturing sector managers that underlined the economic risks from the June 23 referendum on EU membership.But it was hurt further after the publication of the ICM poll, which showed 45 percent ...