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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Money Markets - World

Amwal Al Ghad English - 2014-03-11 09:12:03
European stock markets advanced at the open on Tuesday, with miners posting some of the biggest gains as most metals climbed. The Stoxx Europe 600 index rose 0.4% to 332.63, on track to break a two-day losing run. Among country-specific indexes, France’s CAC 40 index gained 0.3% to 4,385.34, while Germany’s DAX 30 index picked up 0.4% to 9,305.56. The U.K.’s FTSE 100 index added 0.3% to 6,712.27, buoyed by miners. Shares of Anglo American PLC advanced 2.3%, Rio Tinto PLC rose 1.6% and BHP Billiton PLC put on 0.9%. Inchcape PLC rallied 5.7% after the car dealer reported full-year earnings. More»
Amwal Al Ghad English - 2014-03-10 08:46:01
Asian stocks fell sharply on Monday and the dollar stepped back from its recent highs as surprisingly weak Chinese trade data rattled investors already on edge over the crisis in Ukraine. European shares were seen opening largely flat with the poor Chinese data tempering optimism from a robust U.S. nonfarm payrolls report. Financial spreadbetters predicted Britain's FTSE 100 .FTSE would open as much as 0.06 percent higher, Germany's DAX .GDAXI up 0.13 percent and France's CAC 40 .FCHI add as much as 0.18 percent. Investors greeted the new week in Asia on a cautious note after data issued on Saturday showed China's exports unexpectedly tumbled in February, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy. The soft Chinese data put a damper on risk sentiment, which had been temporarily boosted by stronger-than-expected U.S. nonfarm payrolls out on Friday showing employers had added 175,000 jobs to their payrolls last month, up from 129,000 new positions in January. More»
Amwal Al Ghad English - 2014-03-06 15:56:41
European stocks held gains on Thursday, as ECB President Mario Draghi spoke at the bank's monthly press conference. Both the Bank of England (BoE) and the European Central Bank (ECB) kept interest rates at record lows.   Name Price   Change %Change Volume FTSE FTSE 100 Index 6790.11   14.69 0.22% 430985955 DAX DAX Index 9531.86   -10.16 -0.11% 82112681 CAC 40 CAC 40 Index 4412.23   20.98 0.48% 112302836 IBEX 35 IBEX 35 Idx 10291.40   76.20 0.75% 217425973 The Euro Stoxx 600 Index traded around 0.1 percent higher on Thursday afternoon. Bouygues traded up to 9 percent higher after reports it was bidding to buyVivendi's SFR, France's second-biggest telecom group. Bouygues' bid will be financed with cash, debt, and shares from the newly combined company and will not require a capital increase, Reuters reported. Central bank rate decisions However, the main focus for the session was the rate decisions by the two central banks. As expected, the ECB left its main interest rate and its deposit rate unchanged at 0.25 percent and zero percent, respectively. Mario Draghi, the president of the ECB, gave a press conference following the decision, stating that the modest recovery in the euro zone was continuing and firmly reiterating forward guidance. The International Monetary Fund (IMF) has highlighted the risks of low inflation in the zone, and called on the ECB to act. In response, Draghi said that "both upside and downside" risks to inflation are limited, and "broadly balanced over the medium term," while stressing that "inflation expectations for the euro area over the medium to long term continue to be firmly anchored." Meanwhile, the BoE kept its benchmark rate unchanged at a record-low of 0.5 percent. Gilt purchases stayed at £375 billion ($627 billion), as expected. The BoE also announced it would start reinvesting the cashflow from its bond purchases, starting next week. U.S. stocks started modestly higher on Thursday, as investors monitored economic reports as well as ongoing developments in Ukraine. In the U.S. on Thursday, the government reported jobless claims last week declined by 26,000 to 323,000. Another report had U.S. productivity rising 1.8 percent in the fourth quarter. Ukraine in focus Investors are also keeping a close eye on events in Ukraine. EU heads of state met at a summit on Thursday to discuss developments in Ukraine. Tensions between Ukraine and Russia have heightened in recent weeks and on Sunday, Russia carried out a bloodless invasion of the Ukrainian peninsula of Crimea. Crimea's parliament voted to join Russia on Thursday, and its Moscow-backed government set in motion a referendum that will be held within 10 days. Russia'sMICEX Index traded lower by just over 2 percent in the afternoon session. Data watch Back in Western Europe, an index from Halifax showed U.K. house prices rose 2.4 percent in February. For the year, house prices soared 7.9 percent, more than the 7.2 percent predicted by analysts. German industrial orders also managed to beat expectations. The reading for January came in at 1.2 percent, against a prediction for an uptick of 0.7 percent. The Italian and Spanish stock markets outperformed for a second consecutive day, with Italy's FTSE MIB rising by around 0.6 percent, while Spain's IBEX rose 1 percent. Aviva shares climb In stocks news, infrastructure company Balfour Beattyreported a 78 percent collapse in pre-tax profit in 2013. The stock slipped 7.4 percent after the announcement. Shares in Schrodersjumped up 4.5 percent after the group announced that profits at both its asset management and wealth management business soared in 2013. British insurer Aviva unveiled a 6 percent increase in operating profit for 2013; shares rose over 8 percent higher afterwards. More»
Amwal Al Ghad English - 2014-03-06 15:56:35
After a session of subdued trading Asian shares ended mostly higher on Thursday, with traders focused on Friday's U.S. nonfarm payrolls report and the European Central Bank's policy meeting later Thursday. News of China's first-ever bond default and more draining of liquidity from the Chinese central bank weighed on sentiment earlier and kept trade light. U.S. stocks traded mixed on Wednesday, as investors tracked developments in Ukraine and shrugged off the Federal Reserve's latest economic report. The Fed said in its Beige Book report on Wednesday that severe weather across much of the U.S. took a toll on shopping and consumer spending in recent weeks, leading to slower growth and a contraction in some parts of the country. The blue-chip Dow shed 0.2 percent while the S&P 500 crept down 0.1 percent after rising to hit an intraday record of 1,876.53. The Nasdaq inched up 0.1 percent.   Name Price   Change %Change NIKKEI Nikkei 225 Index 15134.75   237.12 1.59% HSI Hang Seng Index 22702.97   123.19 0.55% ASX 200 S&P/ASX 200 5445.89   -0.34 -0.01% SHANGHAI Shanghai Composite Index 2059.58   6.49 0.32% KOSPI KOSPI Index 1975.62   4.38 0.22% CNBC 100 CNBC 100 ASIA IDX 7137.94   66.03 0.93% Tokyo rallies 1.6% Japan's benchmark Nikkei outperformed regional peers on Thursday, closing at a five-week high of 15,134 for the week on the back of a weakening yen. The Japanese currency fell 0.3 percent against the U.S. dollar to trade at 102.67 on late Thursday, after Japan revealed a plan to diversify the portfolio of its pension fund to non-bond vehicles, fueling expectations for large-scale stock purchases. Exporter stocks saw steady gains; Sony piled on 2.4 percent while Toyota Motortraded at a gain of nearly 2 percent all day. Reuters said the car maker may be planning to offer a monthly base pay hike of more than 2,000 yen ($19.37) in this year's wage negotiations. Easing a little from a 3 percent gain midday, Fast Retailing eventually finished 1.8 percent higher. The retailer has been in the limelight, on news that it began trading on the Hong Kong Stock Exchange and a possible acquiring of J Crew. Index heavyweight Softbank advanced nearly 5 percent, on news that its chairman Masayoshi Son, may be planning to talk about a bid for T-Mobile at the Chamber of Commerce in Washington next Tuesday, according to Reuters. Shanghai gains 0.3% Mainland shares gained momentum late Thursday to recoup earlier losses. Worries about the Country's first-ever domestic bond default weighed on the bourse earlier. Solar equipment producer Chaori Solar said on late Tuesday that it will not be able to meet interest payments on bonds due on Friday. However, some analysts say the default may be a good thing. "I think it is important if a company cannot survives in its industry with a serious case of over-capacity, that it leads to a default at some point," says Hans Stoter, Chief Investment Officer at ING Investment Management International, to CNBC'sCash Flow. "For the first time, we can now witness the resolution of such a default, if it happens tomorrow. I think it is an important experience to go through, for markets to get comfortable and when domestic markets open up to foreign investments, to know what they are getting into, should there be another default in China," he added. Further dampening trade was news that the People's Bank of China will be draining a net 70 billion yuan this week to avoid excess funds in the market. Gains from property developers capped losses. Vanke rallied 8.3 percent whileChina Merchants Property and Poly Real Estate bolstered over 6 percent. Coal miners like Yangquan Coal, fell 1.4 percent on fears that the government's war on pollution may impact businesses. Shandong Gold dropped 1.4 percent amid falling interest in the safe-haven precious metal due to easing tensions in Ukraine. Sydney flat Australian shares saw choppy trade near the break-even level, failing to get any boost from strong January trade and retail sales data released earlier in the session. The benchmark S&P ASX 200 index had risen to a five-and-a-half-year high of 5,446 on Wednesday after fourth-quarter gross domestic product (GDP) beat expectations to grow 0.8 percent on quarter in the last quarter of 2013 and 2.8 percent on-year. Retail sales beat estimates, rising 1.2 percent on month in January, while Australia's trade surplus stood at A$1.43 billion, well above expectations of A$270 million surplus in a Reuters poll. On why Australian shares failed to gain momentum from positive economic data, David Walker, senior equities analyst at StocksInValue told CNBC's Cash Flow, "The reason why markets is not responding well to good economic data is because it's fully valued." "Currently we are at 5,440, our valuations are 5,175 and 5,550 for the end of the year. So its already trading well on the way to these valuations. Around current levels, unless earnings growth starts to pick up and accelerate, we think its going to struggle along sideways," he added. Rio Tinto fell back into negative territory with a 0.4 percent loss, as it announced changes to its board early Thursday. Other mining stocks also traded in the red for whole of the session; BHP Billitondropped 0.4 percent while Whitehaven Coal shed 0.6 percent. Seoul adds 0.2% South Korean shares found strength in the final hour of trading to lift itself into the positive trading zone on Thursday. The benchmark Kospi index was lackluster for most of the session, failing to move ahead on Wednesday's largest one-day gain in nearly two weeks. "The local market's slowing down a bit as focus shifts back to leads from the U.S. and China markets, with Ukraine worries easing," said IM investment analyst Kang Hyun-gee. Samsung Electronics fell 0.7 percent. The smartphone maker was in the news for being in talks with carmakers BMW and Volkswagon to supply a smartphone application for cars. Steelmaker Posco rose 1 percent, lifted by China's growth targets on Wednesday. India up 1.1% India's benchmark Sensex index rose on Thursday. The country saw street violence eruption after Wednesday's announcement that April 7 will be the start of parliamentary elections, with voting to be held in nine staggered phases until May 12. More»
Amwal Al Ghad English - 2014-03-05 15:39:16
European stocks were flat on Wednesday, with investors responding to talks in Paris between U.S. Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov over the situation in Ukraine.     Name Price   Change %Change Volume FTSE FTSE 100 Index 6787.65   -36.12 -0.53% 361065881 DAX DAX Index 9567.79   -21.36 -0.22% 46477297 CAC 40 CAC 40 Index 4399.04   3.14 0.07% 61719550 IBEX 35 IBEX 35 Idx 10242.70   116.00 1.15% 186980068 Euro zone data beats The FTSEurofirst 300 Index was higher by around 0.1 percent in afternoon trade as investors modestly followed the stellar gains of the previous session. Tuesday's rally came as Russian President Vladimir Putin appeared to back away from military action in the Ukrainian region of Crimea. Troops that had been on a training exercise near Ukraine's border returned to base and Putin stated that any force used would only be a "last resort." John Kerry and Sergei Lavrov are due to meet in Paris on Wednesday to discuss the current situation, with the U.S. wanting independent observers in Crimea and direct talks between Kiev and Moscow. Furthermore, the EU offered 11 billion euros ($15 billion) in aid to Ukraine. Russia's MICEX Index, which had seen a rebound of 5 percent on Tuesday after tanking 11 percent on Monday, was trading steady with declines of around 0.4 percent. U.S. stocks tallied modest losses on Wednesday, a day after the S&P 500 closed at a record high, as Wall Street considered a report that had the private sector adding fewer-than-projected jobs in February. ADP Research Institute reported the private sector added 139,000 jobs in February, less than the 160,000 estimated. On the European data front, the euro zone's private sector logged its busiest month in over two and a half years in February, outstripping earlier estimates. Markit's euro zone Composite Purchasing Managers' Index (PMI), climbed to 53.3 in February from 52.9 the previous month, beating the flash reading of 52.7 reported at the end of February. The boost in a business activity was once again led by Germany, which posted a 33 month high in output growth. A revised figure for euro zone GDP confirmed a reading of 0.3 percent for the fourth quarter of 2013 and retail sales for the bloc showed a rise of 1.6 percent for the month of January. This was a rebound from a dip of 1.3 percent in December. This data comes ahead of a Governing Council meeting by the European Central Bank (ECB) on Thursday with market watchers keen to pick up any signs on whether the central bank is looking for more economic stimulus in the coming months. In Asia, equities were higher on Wednesday following an inspiring handover from Wall Street. However, Chinese shares remained sluggish. China's annual meeting of parliament, the National People's Congress, which kicked off Wednesday, also provided the market with support. China has set its gross domestic product (GDP) growth target for 2014 at 7.5 percent, Chinese Premier Li Keqiang said. Adidas shares fall Shares of French supermarket Carrefour rose 4.3 percent after announcing its 2013 operating profit had risen by 5.4 percent. Sports retailer Adidas saw its shares lose 2.8 percent as the German firm announced that weakening emerging market currencies would affect its 2014 earnings. Meanwhile, Standard Chartered shares sunk 2.23 percent. The bank cut its bonus pool by 15 percent and predicted modest growth for 2014; however, its profit missed forecasts at $6.95 billion, against estimates of $7.1 billion. More»
Amwal Al Ghad English - 2014-03-05 15:39:01
Asian stocks were mostly higher on Wednesday, after stocks on Wall Street rallied on easing tensions in Ukraine. China's annual meeting of parliament, the National People's Congress, which kicked off Wednesday, also lent support. Russian President Vladimir Putin said on Tuesday there was "no need yet" for Russia to exercise its authority, adding that he was not considering the annexation of Crimea and any force used would be a last resort. The comments quelled fears of a conflict in Ukraine, boosting global risk assets. Wall Street shares closed broadly higher on Tuesday. The Dow Jones Industrial Average added 1.4 percent, while the Nasdaq climbed 1.8 percent. The S&P 500 gained 1.5 percent to end at a record closing high of 1,873.91.   Name Price   Change %Change NIKKEI Nikkei 225 Index 14897.63   176.15 1.20% HSI Hang Seng Index 22579.78   -77.85 -0.34% ASX 200 S&P/ASX 200 5446.23   46.00 0.85% SHANGHAI Shanghai Composite Index 2053.08   -18.39 -0.89% KOSPI KOSPI Index 1971.24   17.13 0.88% CNBC 100 CNBC 100 ASIA IDX 7071.91   30.20 0.43% Shanghai falls 0.9% Mainland shares were the anomaly in Asia on Wednesday, trading in negative territory despite the country unveiling a 2014 growth forecast of 7.5 percent. China's benchmark Shanghai Composite was modestly lower for most of the session but registered a steep decline in the final hour of trading. Worries about the first-ever domestic bond default weighed on the bourse. Solar equipment producer Chaori Solar said on Wednesday that it will not be able to meet interest payments on bonds due on Friday. "The work report reads as business as usual, it's a steady-state report," said Geoff Raby, Chairman and CEO of business advisory firm Geoff Raby & Associates told CNBC Asia's The Call. "The growth report was what they did last year and the year before, so if you track them over the years, you will see a continuity in policy. The leadership is sending a clear message that it's comfortable at where they are at present," he added. Gold stocks were hit as prices of the precious metal fell amid easing tensions in Ukraine. China's largest miner Zijin Mining tumbled 3.3 percent while Zhongjin Gold and Shandong Goldtanked 4 and 3 percent each. Defense stocks tanked, despite news that its government plans to increase military spending by 12.2 percent. Beijing Aerospace Changfeng and Xi-an Aeroengine slumped 1.4 and 2.6 percent respectively. Tokyo rallies 1.2% Japan's benchmark Nikkei staged a strong rally to recoup Monday's steep losses and eventually managed a one-week closing high of 14,897. "The market liked the fact that the possibility of a military clash has diminished. If the tensions over Ukraine keep receding, the market's focus will shift back to economic fundamentals," said Toshiyuki Kanayama, a market analyst at Monex Securities to Reuters. Index heavyweight Softbank added on 1.6 percent while Japan Aviation Electricrallied nearly 7 percent. Automakers remained in focus; Nissan jumped 0.8 percent. Unconfirmed reports said the automaker may be teaming up with Daimler to jointly create a luxury small car in their Mexico facilities. However, Toyota Motor erased early gains to fall 0.9 percent, despite news that it retained the top spot in car sales in Australia for the month of February. Its market share saw an increase of 18.7 percent. Index Fast Retailing was the highlight of the day. Shares of the retailer surged over 3 percent, as the firm had its debut showing on the Hong Kong Stock Exchange on Wednesday. Sydney gains 0.9% Buoyed by better-than-expected fourth-quarter GDP data, Australia's benchmarkS&P ASX 200 index finished nearly 1 percent higher to close at a five-and-a-half-year high of 5,446 on Wednesday The Australian economy picked up speed, beating expectations by growing 0.8 percent on quarter in the last quarter of 2013 and 2.8 percent on-year. Analysts polled by Reuters had expected a GDP rise of 0.7 percent on quarter. Banking stocks were on a roll, after the Reserve Bank of Australia announced on Monday that it would hold its cash rates steady at a record low of 2.5 percent at a policy meeting on late Tuesday. This was in line with market expectations. Leading the gains were Westpac and investment firm Macquarie, who soared 1.7 percent each. Commonwealth Bank of Australia and National Australia Bankrose 0.8 percent each. Gold shares recovered from Tuesday's losses; Newcrest Mining inched up 0.2 percent while Evolution Mining gained 0.5 percent. Korea surges 1% Rebounding from Tuesday's one-week low, South Korean shares posted their biggest one-day gain in nearly two weeks on Wednesday. Blue-chip stocks led the rally; Samsung piled on 1.2 percent while Posco added on 1.5 percent. Hyundai Motor recovered from Tuesday's steep declines on news that its car sales fell 6.8 percent from a year earlier. Shares of the car maker bounced 1.6 percent. Ship makers were the highlight for the day, as a report reflected a 20 percent annual growth in shipbuilding orders and that the industry will continue to do well this year. Samsung Heavy climbed 4.3 percent while Hyundai Mipo Dockyard surged over 5 percent. India up 0.3% India's benchmark Sensex index finished higher, on news that India's election commission has set April 7 as the start of parliamentary elections, with voting to be held in nine staggered phases until May 12. More»
Amwal Al Ghad English - 2014-03-04 16:26:02
European stocks held solid gains on Tuesday, after comments from Russian President Vladimir Putin, who stated that any use of force in Ukraine would only be a last resort.   Name Price   Change %Change Volume FTSE FTSE 100 Index 6820.23   111.88 1.67% 480135641 DAX DAX Index 9575.80   216.91 2.32% 66532553 CAC 40 CAC 40 Index 4392.21   101.34 2.36% 87765558 IBEX 35 IBEX 35 Idx 10101.70   223.00 2.26% 207507492 Putin speaks The Euro Stoxx 600 Index was higher in afternoon trade by just under 2 percent. Putin gave a muted response when asked about any potential conflict in Ukraine at a Moscow press conference on Tuesday morning. He said there was "no need yet" to exercise its authority and he was not considering the annexation of Crimea . He also directly addressed Monday's heavy selling in stock markets saying that the move would only be "temporary." The pan-European benchmark showed gains of 1.7 percent for the day, bouncing back from Monday's declines which saw the DAX lose around 3 percent. Russia's MICEX Index led the move, trading higher by around 5 percent after losing nearly $60 billion in market capitalization on Monday. U.S. stocks jumped on Tuesday, with the Dow and S&P 500 bouncing back after their worst hit in a month. Christopher Granville, co-founder and managing director of the Russia team at Trusted Sources, told CNBC: "Why is it that markets are rebounding today? I think because financial markets always respond to uncertainty. Where might this end? Might the Russian army go on from the Crimea to invade eastern Ukraine or possibly the whole of Ukraine? And clearly the signals are now that is not the aim." Putin's press conference came after reports that the Russian president had ordered troops that took part in military exercises this week to return to base. Heavily weighted Russian stocks claw backed Monday's losses with MegaFonhigher by 4.5 percent, Gazprom climbing 8.7 percent and VTB Bank adding 6 percent. Ukrainian stocks also gained with Kiev's UAX Index rising by 8 percent. On the Euro Stoxx 600, stocks with heavy exposure to Russia like Carlsberg,Societe Generale and Austria's Raiffeisen Bank all traded higher after talk of economic sanctions for Russia had curbed sentiment in the previous session. All major bourses in Europe and all sectors showed buying on Tuesday morning, however gains were capped in the oil and gas sector with continued fears over Russian and Ukrainian pipelines to Europe. Ishaq Siddiqi, a market strategist at spread better ETX Capital, believes that the modest rebound might not last. "Market sentiment remains fragile and anxious at best with traders transfixed with developments in the Ukraine," he said in morning note. Draghi warns on inflation On the data front, a Markit purchasing manager's index (PMI) for the construction industry in the U.K. came in at 62.6 on Tuesday morning. The figure for February was lower than market expectations and lower than a previous figure of 64.6. Euro zone producer prices also came in worse-than-expected. The year-on-year figure saw a fall of 1.4 percent, according to the data, against predictions for a slide of 1.3 percent. Meanwhile, Mario Draghi, the president of the European Central Bank (ECB), told European lawmakers on Monday that inflation in the euro zone is "way below" the bank's target. He added that the longer it stays at such low levels, the harder it will be to get it back up to its goal with a risked of it becoming entrenched at low levels. Some analysts saw this as a sign of a rate cut with the ECB's Governing Council set to meet this week. However, Chris Weston, a trader at IG Markets believes this is still quite far off. "Draghi actually balanced out his comment on inflation by saying the economy is moving in the right direction and saying the Ukraine situation will have a limited economic impact on the region," he said in a morning note on Tuesday. Glencore shares rise In other stocks news, mining giant Glencore Xstrataswung to a net loss in 2013 but reported earnings that were better than forecast; shares were higher by 1.9 percent. Germany's energy firm RWE posted its first annual loss in six decades on Tuesday caused by nearly $7 billion in writedowns. However. shares rose 1.3 percent with analysts saying that the results were better than expected. More»
Amwal Al Ghad English - 2014-03-04 16:14:10
Asian equities were a mixed sight on Tuesday as shares, in particular Tokyo and Sydney, clawed back losses from an acute selloff in the previous session, fueled by brewing instability in Ukraine. Investors were also cautious ahead of China's National People's Congress on Wednesday. Commenting on Monday's risk aversion in financial markets, Patrick Chovanec, Chief Strategist at Silvercrest Asset Management told CNBC's Asia Squawk Box,"The geopolitical significance of (Ukraine) is huge. The economic (impact), not so much." "I think it is important to put into perspective that Ukraine's gross domestic product (GDP) is only about 7 percent of Greece and it is not part of any global supply chain... So i think markets are a little over reacting to the economic impact, even if things get worse in Ukraine," he added. Russia on Monday cemented its control over Ukraine's Crimean peninsula after Russian President Vladimir Putin declared he had the right to invade his neighbor. As the crisis deepened, the United States has suspended all military engagements with Russia, including military exercises and port visits, as part of Washington's response.   Name Price   Change %Change NIKKEI Nikkei 225 Index 14721.48   69.25 0.47% HSI Hang Seng Index 22657.63   156.96 0.70% ASX 200 S&P/ASX 200 5400.23   15.90 0.30% SHANGHAI Shanghai Composite Index 2071.47   -3.76 -0.18% KOSPI KOSPI Index 1954.11   -10.58 -0.54% CNBC 100 CNBC 100 ASIA IDX 7041.71   18.09 0.26% U.S. stocks declined sharply on Monday, as worries about Russian intervention in the Ukraine sent investors fleeing from risk assets. Data showing U.S. factory activity rebounded from an eight-month low in February and a bigger-than-expected increase in consumer spending were overshadowed by the focus on Ukraine. The Dow Jones Industrial Average closed 1 percent lower, its biggest one-day loss in a month, with all of its components finishing in the red. The S&P 500 fell 0.8 percent while the tech-heavy Nasdaq lost 0.7 percent. Shanghai 0.2% lower Mainland shares bounced between gains and losses on Tuesday, ahead of the government's annual meeting due to start on Wednesday. At midday, the Shanghai Composite index was down nearly 1 percent but eventually managed to trim losses later in the session. Still, the index effectively snapped a four-day winning streak. "At this point, there is little reason for people to be too active in the market. There's the Ukraine situation and some have positioned for the meetings in China, in anticipation of supportive policies," said Jackson Wong, vice president for equity sales at Tanrich Securities to Reuters. Among losers, Shandong Gold erased a 1 percent gain to slump 2.4 percent. However, fellow gold stocks Zijin Mining rallied 0.5 percent, on rising prices of the precious metal which received a boost from safe-haven buying amid uncertainty in Eastern Europe. Property developer Vanke climbed 4 percent, on news that it now has regulatory approval to move its B-share listing to Hong Kong, more than a year after the plan was mooted. Tokyo up 0.5% A weaker yen lifted Japan's benchmark Nikkei into positive territory on Tuesday. The Japanese currency traded at 101.8 against the greenback on late Tuesday, significantly weaker than Monday's one-and-a-half-week high of 101.22. Stocks cheered a weaker currency; Exporter stocks Panasonic gained 2.3 percent while E-commerce Rakuten advanced nearly 3 percent. February auto sales from the U.S. dominated shares of Japanese automakers for the day. Toyota Motor got a boost by 0.7 percent, after news that it's expecting more sales in Europe this year soothed concerns about declining February sales in the U.S. Nissan went down over 1 percent, despite a 15.8 percent on-year rise in U.S. sales for February. Fast Retailing piled on over 1 percent, on Monday's news that its Uniqlo Japan sales rose 0.8 percent on year following strong demand for its winter products due to the cold weather. The retailer will be listing in Hong Kong on Wednesday. Sydney up 0.3% After posting its biggest one-day decline in a month in the previous session, Australia's S&P ASX 200 index claimed modest gains on Tuesday to recover from Monday's steep declines. Investors reacted to news on Australia's current account deficit, which was better than analysts' expectations, narrowing to A$10.14 billion in the fourth-quarter of 2013 from the previous quarter. Upbeat building approvals data also lifted sentiment. Banking stocks were upbeat, as the Reserve Bank of Australia announced that it would keep interest rates on hold at a policy meeting on late Tuesday. This was in line with market expectations. The central bank cited a revival in housing and consumption for its decision. Commonwealth Bank of Australia rose 0.6 percent, while Australia and New Zealand Bank andWestpac climbed 0.7 and 1 percent each. Struggling flag carrierQantas was in focus after the Australian government agreed to loosen restrictions on foreign ownership of the airline. However, Opposition Labor politicians said the plan would not pass parliament, even with a new Senate in July. Shares of Qantas dunked 1.3 percent on Tuesday. Paring gains was AGL Energy which dropped nearly 3 percent, on news that the Australian Competition and Consumer Commission blocked the state government's plan to sell Macquarie Generation to the company on competition concerns. After moving ahead on safe-haven buying into the precious metal, gold stocks fell on Tuesday, limiting gains on the bourse. Evolution Mining and Kingsgateplunged 2 and 4 percent each; Alacer Gold was the sole exception with a 2.4 percent gain. Seoul dips 0.6% South Korean shares remained spooked by Ukraine's crisis. The benchmark Kospiindex extended Monday's worst daily fall in nearly a month to hit a one-week low on Tuesday. Some analysts say investors may also be awaiting news of China's annual meeting. "Investors are waiting to see what growth targets or stimulus-related comments will be offered from China," Chung Seung-jae, Analyst from Mirae Asset Securities told Reuters. Among losers, Hyundai Motor was in the doldrums by 1.6 percent on news that its car sales fell 6.8 percent from a year earlier. Blue-chip stocks Samsung and Posco weighed on the bourse with declines of 0.8 and 2.1 percent respectively. The latter was hit by continued worries that a slowdown in China would hurt its steel- making demands and earnings. Meanwhile, investors may be digesting to news that South Korea's president nominated a former senior deputy chief of the central bank to be its next governor, with the mission of ensuring price stability in Asia's fourth-largest economy. More»
Amwal AL Ghad Engish - 2014-03-03 07:57:19
Stocks slid while oil prices shot up on Monday, after Russia bloodlessly seized a part of Ukraine, escalating tensions between Russia and the West to a level not seen since the end of the Cold War. U.S. stock futures fell 0.7 percent from a record high hit on Friday while Japan's Nikkei average tumbled 1.3 percent .N225. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.6 percent. European shares were likely to start weaker, with the spread-betters expecting Germany's DAX .GDAX to fall as much as 1.4 percent, France's CAC .FCHI 1.2 percent and Britain's FTSE .FTSE 1.0 percent. Kiev has mobilized for war after Russian President Vladimir Putin declared his right to invade his neighbor, with Russian forces already controlling strategically important Crimea, an isolated Black Sea peninsula where Moscow has a naval base. U.S. Secretary of State John Kerry condemned Russia's move as an "incredible act of aggression" and the Group of Seven countries (G7) cancelled for now preparations for the G8 summit in protest. More»
Amwal AL Ghad Engish - 2014-02-27 07:36:06
Asian shares struggled to find a solid footing on Thursday as escalating tensions in Ukraine sent investors scurrying to the safety of the dollar and U.S. Treasuries. Japanese stocks skidded, with the Nikkei .N225 slipping 0.4 percent although MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS managed to erase early losses to eke out small gains on a rebound in Chinese shares. European shares are expected to fall slightly, with Germany's DAX .GDAX and Britain's FTSE .FTSE seen falling about 0.1 percent. Wall Street's failure to extend its rally above historical highs on Wednesday did not help soothe fears that a wider conflagration in Ukraine could intensify risk aversion. Russian President Vladimir Putin ordered drills by his armed forces to test combat readiness in western Russia, near the border with Ukraine, prompting Washington to warn a military intervention would be a "grave mistake. More»