Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

European stocks slide on fears over Syria, Fed tapering  Join our daily free Newsletter

MENAFN - AFP - 09/09/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) European equities retreated on Monday despite gains across Asia, as sentiment was hit by fresh fears over Syria and the possible withdrawal of US Federal Reserve stimulus, dealers said.

In afternoon deals, London's FTSE 100 index fell 0.39 percent to 6,521.91 points, the CAC 40 in Paris shed 0.33 percent to 4,036.03, and Frankfurt's DAX 30 dipped 0.02 percent to 8,274.18 points

The European single currency climbed to 1.3211 from 1.3180 late on Friday. The dollar rose to 99.37 yen from 99.07 yen.

On the London Bullion Market, gold prices eased to 1,386.00 an ounce from 1,387.

"Syria and tapering concerns (are) being balanced off by the overnight gains in Asian markets," said Ishaq Siddiqi, analyst at ETX Capital traders.

Markets remain hampered however by lingering fears that the US Federal Reserve could decide soon to taper, or wind down, its vast stimulus policy known as quantitative easing.

Weaker-than-forecast US jobs figures raised concerns on Friday about the world's number one economy but also fuelled hope that the Fed will hold off reducing its stimulus programme for the time being.

Meanwhile, sentiment remains plagued by ongoing fears of a looming intervention in Syria.

US Secretary of State John Kerry said Monday that the solution to the Syrian conflict must be political not military but that air strikes were essential to stop President Bashar al-Assad's regime from killing its own people with chemical weapons.

In company news on Monday, pharmaceuticals group GlaxoSmithKline saw its share price slip 0.51 percent to 1,642.50 pence following news of a major divestment.

Japanese drinks giant Suntory has agreed to buy the British drugs firm's top-selling Lucozade and Ribena brands for 2.1 billion, the pair said.

BP shares dropped 0.28 percent to 444.30 pence, despite news that the British energy giant has discovered a "significant" amount of gas in the East Nile Delta in offshore Egypt after drilling the deepest ever well in the region.

On the upside, shares in Lloyds Banking Group rallied 1.10 percent to 76.24 pence, with sentiment buoyed after the lender relaunched its former TSB bank division back onto the high street.

Asian stocks rose Monday as strong Chinese trade data lifted hopes for the global economic outlook while Japanese stocks were boosted by improved growth figures and Tokyo's successful bid to host the 2020 Olympics.

Chinese data on Sunday showed exports jumped 7.2 percent year-on-year to 190.6 billion last month, much better than the 6.0 percent expected by economists. It was also better than the 5.1 percent rise seen in July.

The figures are the latest in a string of good results out of Beijing that indicate China's painful slowdown over much of the first six months of 2013 may have come to an end. Earlier this month the government said manufacturing activity grew at its fastest pace in 16 months in August.

Shanghai equities soared 3.39 percent and Hong Kong added 0.57 percent after the upbeat data from the Asian powerhouse nation.

In Japan, the Tokyo stock market soared 2.48 percent, boosted by Tokyo's Olympics success and after official data showed that the nation's economy grew by 0.9 percent in the second quarter, up from a prior reading of 0.6 percent.

Elsewhere in Asia, Sydney stocks rose 0.71 percent in the first session back after the conservative Liberal/National coalition won a weekend general election in Australia, as widely expected.

US stocks opened higher Monday on strong economic data from China and Japan.

Five minutes into trade, the Dow Jones Industrial Average jumped 0.44 percent to 14,988.01 points.

The broad-based S&P 500 added 0.43 percent to 1,662.28, while the tech-rich Nasdaq Composite Index tacked on 0.59 percent to 3,681.42 points.


 






  MENA News Headlines
 Jul 27 2014 - New dates for Plastivision ArabiaspanKhaleej Times
(MENAFN - Khaleej Times) Po Centre Sharjah will continue to partner with the All India Plastics Manufacturers Association or Aipma the oldest and the largest apex body of the plastic industry in ...

 Jul 27 2014 - First physical delivery of plastics futures contract done by DCCCspanKhaleej Times
(MENAFN - Khaleej Times) E DCCC which acts as the clearing house for the DGCX is the central counterparty for each trade carried out on the exchange.The Dubai Commodities Clearing Corporation or DCCC ...

 Jul 27 2014 - Ajman Bank to distribute DMCC coinsspanKhaleej Times
(MENAFN - Khaleej Times) E UAE Gold Bullion Coins are available in four denominations weighing 1oz 1/2oz 1/4oz and 1/10oz.The Dubai Multi Commodities Centre or DMCC has announced that Ajman Bank is ...

 Jul 27 2014 - SIB launches Splendid Summer OfferspanKhaleej Times
(MENAFN - Khaleej Times) Arjah Islamic Bank or SIB has launched its Splendid Summer Offer a new highly-competitive personal finance product with the lowest rates ever starting from only 2.The move is ...

 Jul 27 2014 - Six Emirati families get new AvanzaspanKhaleej Times
(MENAFN - Khaleej Times) Med at making reliable and affordable mobility available to a larger segment of the society the initiative empowers members of the UAE community with the right transport ...

 Jul 27 2014 - Busy Eid for Abu Dhabi hotelsspanKhaleej Times
(MENAFN - Khaleej Times) Cupancies set to be increased as competition has never been so tough Emirates Palace like other hotels in Abu Dhabi have revved up their offers for Eid. — Supplied ...

 Jul 27 2014 - Dubai retailers look to continue brisk businessspanKhaleej Times
(MENAFN - Khaleej Times) Tailers are anticipating another year of enthusiastic buying and selling as all major malls in the emirate witness an increase footfall this summer.Fashion apparel home ...

 Jul 27 2014 - Bank of Baroda marks 107th foundation dayspanKhaleej Times
(MENAFN - Khaleej Times) Ma Moorthy garlanded the portrait of Sir Sayajirao Gaekwad III and lit a lamp to mark the celebration of 107th foundation day.Bank of Baroda recently celebrated its 107th ...

 Jul 27 2014 - Gulf Intl Bank posts 50.2m first-half profitspanKhaleej Times
(MENAFN - Khaleej Times) T interest income at $76.Gulf International Bank reported a consolidated net income after tax of $50.2 million for the six months ended June 30 2014 compared to $60.6 million ...

 Jul 27 2014 - ABC Islamic Bank gains up 25 at 7.5mspanKhaleej Times
(MENAFN - Khaleej Times) Erating expenses increased to $3.ABC Islamic Bank on Saturday announced that its net profit for the first half of 2014 was $7.5 million 25 per cent higher than the profit of ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help