Quotes: 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 "significan" 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.


 


AFP




  MENA News Headlines
 May 6 2016 - Kuwait pledges to invest USD106b over 2016-19MENAFN
(MENAFN) Unlike prior investment initiatives, Kuwait has been implementing a strategic Development Plan whose aim is to develop infrastructure across a number of divisions through the wide use of the ...

 May 6 2016 - Saudi wages jump by 4.5 percentMENAFN
(MENAFN) Saudi wages have grown by an average 4.5 percent through the previous year, while the forecasted rate was set at a bit higher 5 percent, based on recent reports.Regardless to the economic ...

 May 6 2016 - Omani new rail-network to surge exports considerablyMENAFN
(MENAFN) As the aspiring Omani national rail network currently under development connects prodigious mining sites with the Sultanate's maritime gateways, gypsum exports along other minerals will ...

 May 6 2016 - Air strikes on Syria displaced c killing 28 as Aleppo truce holdsThe Peninsula
(MENAFN - The Peninsula) Syrians carry a giant pre-Baath Syrian flag as they shout slogans during an anti-regime protest in the rebel-held Bustan al-Qasr district in eastern Aleppo on May 5 2016. The ...

 May 5 2016 - Qatar- Ronaldo hails Zidane as Real reach Chions League finalThe Peninsula
(MENAFN - The Peninsula) Real Madrid's Portuguese forward Cristiano Ronaldo controls the ball during the UEFA Champions League semi-final second leg football match Real Madrid CF vs Manchester City ...

 May 5 2016 - Qatar could host Summer Olympics says CoeThe Peninsula
(MENAFN - The Peninsula) President of the International Association of Athletics Federation (IAAF) Sebastian Coe (L) and Presdient of the Qatar Athletics Federation (QAF) Dahlan Al Hamad (R) speak ...

 May 5 2016 - Qatar Aquabike chionship to begin on FridayThe Peninsula
(MENAFN - The Peninsula) DOHA: The third round competitions of Qatar’s Local Aquabike Championship 2016 organized by the Qatar Sailing and Marine Sports Federation (QSMF) will get underway ...

 May 5 2016 - Gulf Air's FalconFlyer and Europcar in dealThe Peninsula
(MENAFN - The Peninsula) Gulf Air and Europcar officials signing the agreement. Manama: Gulf Air the Kingdom of Bahrain’s national carrier yesterday announced a partnership between the ...

 May 5 2016 - Visitors from Qatar to Dubai increase by 26 in Q1 2016The Peninsula
(MENAFN - The Peninsula) Doha: Dubai welcomed 4.1 million overnight visitors in the first three months of 2016 a 5.1% increase over the same period last year backed by strong double digit ...

 May 5 2016 - Joyalukkas wins Best Service Performance Brand awardThe Peninsula
(MENAFN - The Peninsula) Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum honouring Joy Alukkas Chairman Joyalukkas at a function in Dubai. Dubai: The eponymous Joyalukkas Jewellery received ...

 May 5 2016 - Qatar- Real estate deals at QR580.6m in last week of AprilThe Peninsula
(MENAFN - The Peninsula) DOHA: The combined value of Qatar’s real estate transactions during the fourth week of April (from 24-28) amounted to QR580.6m showing over 57 percent growth compared ...

 May 5 2016 - Qatar- SP affirms QIB's long-term ratingThe Peninsula
(MENAFN - The Peninsula) DOHA: S&P Global Ratings has affirmed Qatar Islamic Bank’s (QIB) “A-/A-2” long and short term counterparty credit ratings. QIB’s rating reflects ...

 May 5 2016 - Qatar bourse and Goldman Sachs launch London roadshowThe Peninsula
(MENAFN - The Peninsula) DOHA: Qatar Exchange (QSE) in coordination with Goldman Sachs yesterday commenced in London a roadshow that aims to promote investment in the Qatari companies listed on QSE ...

 May 5 2016 - Vodafone Qatar unveils Connect Plans schemeThe Peninsula
(MENAFN - The Peninsula) Vodafone officials at the launch of the company’s ‘Connect Plans’ scheme at the Four Seasons Hotel in Doha yesterday. Pic: Baher A / The Peninsula ...

 May 5 2016 - Qatar for joint efforts to rejuvenate global economyThe Peninsula
(MENAFN - The Peninsula) Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani with Chairman of the Presidential Council of the Republic of Bosnia and Herzegovina Bakir ...

 May 5 2016 - Philippines' leading airline Cebu Pacific boosts direct service to DohaThe Peninsula
(MENAFN - The Peninsula) DOHA: The Philippines’ leading airline Cebu Pacific (CEB) will add a frequency between Manila and Doha beginning July 9. The only Philippine carrier flying non-stop ...

 May 5 2016 - Qatar Today announces second edition of business excellence awardsThe Peninsula
(MENAFN - The Peninsula) DOHA: Qatar Today has announced the second edition of its Business Excellence Awards. The event being held under the auspices of Qatar Stock Exchange will identify ...

 May 5 2016 - Qatar Chamber participates in food security meetThe Peninsula
(MENAFN - The Peninsula) Sheikh Khalifa bin Jassem bin Mohammed Al Thani (left) Chairman Qatar Chamber at the Food Security Conference held in Fujairah. DOHA: Qatar Chamber (QC) participated ...

 May 5 2016 - KidzMondo set to open at Mall of QatarThe Peninsula
(MENAFN - The Peninsula) Ali Kazma (left) KidzMondo Founder and Nabil Barakat General Manager during a press conference and groundbreaking event of KidzMondo Doha at Hilton Hotel yesterday. Pic: ...

 May 5 2016 - Four wounded after rockets hit Turkey's KilisThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) >Four people including a police officer were wounded after rockets fired from Islamic State of Iraq and the Levant (ISIL)-controlled territory hit the ...

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help