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

European stocks climb as US voters head to polls  Join our daily free Newsletter

MENAFN - AFP - 06/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) Europe's main stock markets advanced on Tuesday in cautious deals as investors awaited the outcome of the US presidential election and digested news of bumper profits from carmaker BMW.

Markets held on to their gains despite a downbeat survey which showed that private sector business activity across the eurozone shrank at its fastest rate in three-and-a-half years in October.

London's FTSE 100 index of major blue-chip companies won 0.53 percent to 5,870.32 points in late morning deals, Frankfurt's DAX 30 added 0.70 percent to 7,377.19 points and in Paris the CAC 40 gained 0.73 percent to 3,474.10.

In foreign exchange activity, the euro sank to 1.2764 -- the lowest level since September 11 -- weighed down by concerns over debt-plagued Greece, and as the dollar attracted safe-haven demand amid US election uncertainty.

The European single currency later stood at 1.2797, up from 1.2791 late in New York on Monday. Gold prices rose to 1,690.57 an ounce on the London Bullion Market from 1,683.50 Monday.

US polling stations opened on Tuesday, with Democratic incumbent Barack Obama and Republican challenger Mitt Romney neck-and-neck, leaving markets trading in a narrow band as investors held off making any bets until the outcome is known.

"Stock markets are higher in Europe this morning, but there is an element of caution ahead of the presidential election tonight," said analyst Craig Erlam at trading group Alpari UK.

"There is still nothing in it between the two parties, which is only building on the uncertainty we're currently seeing in the markets.

"One thing does look certain now and that is no matter which candidate wins, the parties are going to have to come to some agreement on how to overcome the fiscal cliff."

Warnings are mounting about the dangers of the US fiscal cliff -- a mandated sharp cut in government spending and the end to a package of tax breaks expected to suck half a trillion dollars out of the economy next year.

IMF chief Christine Lagarde on Monday urged the United States to "address quickly" the budget mess facing the government, no matter who wins the election.

"Equities are marginally higher this morning as investors follow the US election," said Mike McCudden, head of derivatives at online stockbroker Interactive Investor.

"Regardless of the US election outcome, resolving the 'fiscal cliff' situation will dominate the agenda in the weeks ahead, with the ensuing volatility forcing many investors on to the sidelines."

US Polls opened at 6:00 am (1100 GMT) in battleground states New Hampshire and Virginia, as well as New York, New Jersey, Connecticut, Indiana, Kentucky, Maine and Vermont.

Back in Europe, investors set aside news of shrinking eurozone private sector business activity to focus on healthy earnings from German luxury carmaker BMW.

The automaker said its net profit jumped 16 percent to 1.289 billion euros (1.6 billion) in the three months from July to September, while revenues soared 13.7 percent to 18.817 billion euros.

BMW also stuck to its forecast for record sales and earnings this year.

Asian stock markets closed mixed on Tuesday as investors also awaited the start of this week's Communist Party's 18th congress, which will see a once-in-a-decade leadership transition in China.

Hong Kong slipped 0.28 percent, Shanghai shed 0.38 percent and Tokyo softened 0.36 percent, while Seoul rose 1.05 percent and Sydney closed 0.24-percent higher.


 






  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014US Secretary of State Meets Egyptian Intelligence Chief ,Qatar News Agency
(MENAFN - Qatar News Agency) shington April 24 - US Secretary of State John Kerry has met with the Egyptian Intelligence Chief Major General Mohammed Ahmed Fareed al-Tohami who is currently ...

Apr 24 2014Egypt's Interim President Receives Phone Call from South African President ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egypt's Interim President Adly Mansour has received a telephone call from President of the Republic of South Africa Jacob Zuma in which they discussed ...

Apr 24 2014Sharjah Ladies Club organizes "Sharjah Ladies run" at the University City ,MENAFN Press
(MENAFN Press) Sharjah Ladies Club gears up to launch "Sharjah Ladies run" at the Sharjah University City. With over 250 participants, the activity aims to encourage women and enable them to ...

Apr 24 2014Alcatel-Lucent Enterprise to address the network application challenge with new access switch, added analytics and SDN capabilities ,MENAFN Press
(MENAFN Press) The Enterprise division of Alcatel-Lucent recently unveiled new technology to address the challenges created by pervasive mobility and the explosion of new applications being ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

Apr 24 2014King bids to reassure Saudis as MERS deaths hit 85 ,AFP
(MENAFN - AFP) King Abdullah was in the Saudi commercial hub of Jeddah on Thursday in a bid to reassure a worried public as the death toll from the MERS virus hit 85. The Red Sea city has seen a ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

more...


 
Click to Apply






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
Marketwatch News
UPI News
Comtex News

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