London/ AFP European equities drifted mostly lower on Thursday in quiet pre-holiday trade, with investors awaiting news on the fate of crippled bank Monte dei Paschi di Siena (BMPS). Wall Street also eased at the opening, slipping further away from the elusive 20,000 target on the Dow index. “The long awaited 20,000 benchmark on the Dow isn’t breached yet ...
Read More »Stocks
European stocks drop as Italian bank woes resurface
London / AFP Europe’s main stock markets dropped on Wednesday, with focus once more on Italian bank Monte dei Paschi, whose shares tumbled on fading hopes that it will avoid a state bailout. Around 1115 GMT, London’s benchmark FTSE 100 index was down 0.2 percent compared with the close on Tuesday. In the eurozone, Frankfurt’s DAX 30 slipped 0.1 ...
Read More »World markets struggle after fatal attacks in Europe
London / AFP Global markets struggled on Tuesday as traders mulled the impact of this week’s deadly attacks in Europe before the Christmas and New Year holiday. Frankfurt and London were flat around midday after Monday’s fatal attacks in Germany and Turkey, Paris eked out gains and most Asian indices faltered. At least 12 people were killed and dozens ...
Read More »Asian shares slip as US-China drone row drags on sentiment
HONG KONG / AP Most Asian stock benchmarks lost ground on Monday as investors fretted over the potential political and economic fallout from China’s capture of a US underwater glider. Worries over China’s effort to stem outflows of capital also overshadowed the Hong Kong market following an economic work conference in Beijing late last week. KEEPING SCORE: Japan’s benchmark ...
Read More »Monte Paschi to start share sale in effort to avert state rescue
Bloomberg Banca Monte dei Paschi di Siena SpA will begin taking orders for shares on Monday as it aims to complete raising 5 billion euros ($5.2 billion) by the end of the year to avoid a rescue by the Italian government. Monte Paschi will sell stock to institutional investors through Thursday, while the offer for retail investors will end ...
Read More »Federal Reserve rate hike ups European markets
London / AFP Europe’s stock markets advanced on Thursday and the dollar soared after the US Federal Reserve hiked interest rates as expected — and signalled three more rises next year. The news sent the dollar spiking to a near 14-year high against the euro, as the hawkish prospect of more rate increases cemented support for the greenback. Shortly ...
Read More »Stocks fall, bonds rise on caution before Fed meet
Bloomberg Caution pervaded markets before the Federal Reserve’s expected interest-rate hike later on Wednesday, with European stocks slipping from an 11-month high and government bonds advancing. Crude retreated on industry data showing US stockpiles increased. The Stoxx Europe 600 Index retreated before the conclusion of the Fed’s two-day meeting, as investors awaited clues on the likely path of rates ...
Read More »Stocks resume advance, crude extends gains
Bloomberg Global stocks advanced while the dollar was little changed amid optimism that the Federal Reserve’s expected rate increase signals confidence that the economy is strengthening. Italian equities and bonds surged on bank recapitalization plans. The S&P 500 Index rebounded after halting its longest rally since 2014 on Monday. European stocks reached an 11-month high as Italy’s largest lender ...
Read More »Global stocks slide, oil jumps ahead of Fed rate decision
BEIJING / AP Stocks fell on Monday ahead of a Federal Reserve meeting that is expected to raise US interest rates, while oil prices jumped after several non-OPEC countries agreed to join the cartel in cutting output. KEEPING SCORE: Britain’s FTSE 100 was down 0.3 percent to 6,933 and Germany’s DAX shed 0.2 percent to 11,186. France’s CAC 40 ...
Read More »Speediest traders become less welcome in currency markets
Bloomberg The most aggressive high-frequency currency traders are showing signs of losing steam, suggesting platforms have succeeded at thwarting some speedy strategies. Electronic specialists are making waves by eclipsing major banks in foreign-exchange trading. But some strategies — focused on fast execution and short-term arbitrage — have reached a “saturation point,†according to the Bank for International Settlements. At ...
Read More »