Tag Archives: European

European shares hover near 2-month lows as energy stocks fall

* FTSEurofirst 300 down around three pct this week

* Weak oil prices place stress on energy shares

* Bearish broker comments hit Dialog shares

By Sudip Kar-Gupta

LONDON, Dec 11 European shares fell on Friday as weak commodity rates put stress on markets prior to a extensively anticipated rise in U.S. interest prices subsequent week.

The pan-European FTSEurofirst 300 index fell .five percent to hover near two-month lows, although the euro zone’s blue-chip Euro STOXX 50 index also declined by a comparable amount.

The FTSEurofirst is down by practically three % so far this week and also down 6 percent since the start off of December, soon after the European Central Bank disappointed some investors with only restricted new economic stimulus measures this month.

Weak commodity rates have also weighed on markets this month.

The STOXX Europe 600 Oil & Gas Index fell 1.1 %, with crude oil costs remaining at levels not noticed since early 2009 as output in the Middle East continued to rise in spite of an already massive worldwide glut.

“These growing fears over elements such as an excessive oversupply in the markets and the visible reduction in demand for oil have regularly haunted investor sentiment, consequently affecting any remaining attraction towards oil,” mentioned FXTM analyst Lukman Otunuga.

French advertising group Publicis underperformed, falling .six percent following losing a U.S. marketing account with L’Oreal to rival WPP, whose shares rose .9 %.

Shares in companies exposed to South Africa, such as British financial groups Old Mutual and Investec, also dropped as South African economic stocks slumped in the wake of the sacking of the country’s finance minister.

Dialog Semiconductor’s shares also fell by about 10 %, with traders citing adverse comments on the outlook for the company from Bankhaus Lampe.

In spite of the pullback on markets this month, the FTSEurofirst 300 index remains up by around four percent since the start of 2015, helped in portion by the ECB’s policies which have supported a recovery in the euro zone economy.

Today’s European study round-up

(Editing by Toby Chopra)

European shares weaken as Bayer and commodity stocks fall

* Bayer falls on scrutiny of Xarelto drug

* DuPont/Dow Chemical merger talks lift Syngenta and BASF

By Sudip Kar-Gupta

LONDON, Dec 9 European shares fell on Wednesday to their lowest level in far more than two months, weighed down by a drop at pharmaceuticals group Bayer and far more pressure on commodity stocks.

The pan-European FTSEurofirst 300 index fell .3 % to its lowest level considering that late October, although the euro zone’s blue-chip Euro STOXX 50 index also slipped by .two percent.

Bayer shares fell by three.four percent as European and U.S. drug safety agencies probed whether or not a defective blood-clotting test device impacted a trial involving Bayer’s anti-blood clotting drug Xarelto.

Oil rates climbed back up on Wednesday as U.S. crude inventories dipped, whilst Japan posted rising machinery orders and copper costs also held their ground.

Nonetheless, a lot of investors were cautious, citing persistent concerns about a slowdown in China and uncertainty more than the impact of a most likely U.S. interest rate hike in December.

China is the world’s most significant consumer of metals, and fears about a slowdown in the country have knocked back commodity stocks this year.

Data on Wednesday showed that China’s customer inflation picked up slightly in November but remained well beneath the government’s 2015 price target of 3 percent, raising concerns that the world’s second-largest economy could be sucked into a Japan-style deflationary trap.

“I am taking a much more defensive attitude now, and I have reduce equities to neutral from overweight,” mentioned Francois Savary, chief investment officer at investment management firm Prime Partners.

Ashtead was the very best-performing stock on the European STOXX 600 index, climbing eight.2 % following the industrial equipment employ group raised its profit expectations.

Syngenta and BASF shares also rose on the back of merger talks between rivals Dow Chemical and DuPont.

In spite of the pullback so far this week, European stock markets remain in positive territory because the start off of 2015, helped by financial stimulus measures from the European Central Bank (ECB).

The FTSEurofirst is up around five % since the begin of 2015, although Germany’s DAX is up practically 10 %.

Today’s European investigation round-up (Editing by Estelle Shirbon)

Carlin wins second European gold

Carlin edged out Hosszu in a thrilling final

Jazz Carlin won her second gold at the European Short Course Championships with victory in the 400m freestyle.

The Briton had triumphed in the 800m freestyle on Thursday in Israel and followed that up with a thrilling win over Hungary’s Katinka Hosszu.

The 25-year-old from Wales clocked a time of three minutes 58.81 seconds, beating Hosszu by 0.03 seconds,

There was also a silver for Chris Walker-Hebborn after he finished joint second in the 50m backstroke.

Walker-Hebborn and Italy’s Simone Sabbioni both clocked 23.09 behind Poland’s Tomasz Polewka (22.96).

It means GB finish the meeting with 11 medals – two golds, seven silvers and two bronzes.

Carlin had gone out strongly in her race behind Hosszu and Femke Heemskerk of the Netherlands and was second at the halfway point before taking the lead at the 250m mark.

Hosszu edged ahead with 50m left but Carlin finished strongly to get the better of her rival and add to the bronze she won at the World Championships in Kazan in August. Her team-mate Hannah Miley finished sixth.

National Bank of Greece gets two.71 bln euro state aid by the European Commission

ATHENS The European Commission approved on Friday state aid of two.71 billion euros for National Bank of Greece (NBGr.AT), primarily based on a modified restructuring strategy.

The commission concluded that measures the National Bank of Greece has already implemented will enable it to safe a grant of credit to the Greek economy, according to the European Union’s rules on state help.

“With the completion of the recapitalization of the 4 systemic banks of Greece and the quite important participation of the private sector, one particular a lot more element of uncertainty was eliminated,” said European Commissioner Pierre Moscovici.

“This improvement is a good step to make sure the sustainable restoration of self-assurance in Greece.”

A European Central Bank well being verify in October found National Bank of Greece, the country’s biggest lender by assets, would have a capital shortfall of 4.six billion euros ($ 4.86 billion) beneath the most adverse scenario.

(Reporting by Lefteris Karagiannopoulos Editing by Catherine Evans)

Banks and miners assist European shares edge larger

* FTSEurofirst 300 index rises .2 percent

* UK banks achieve right after pressure test final results

* Linde slumps after cutting medium-term targets

By Atul Prakash

LONDON, Dec 1 European shares edged higher on Tuesday, with UK-listed banks gaining right after none failed the latest Bank of England “pressure tests” on the sector.

Standard Chartered, Lloyds Group, Royal Bank of Scotland, HSBC and Barclays rose 1.4 to two.7 percent, assisting the European banking index gain much more than 1 %, soon after the BoE mentioned major UK lenders did not have to take any action.

The BoE discovered capital ratios are not far from what is necessary in the longer term, potentially opening the way for greater dividends.

“The BoE UK bank anxiety test final results recommend the central bank will ease capital pressures on the sector following years of post-crisis reform,” Augustin Eden, analyst at Accendo Markets, mentioned. “Even though RBS and Normal Chartered failed aspects of the balance sheet analysis exercising, they already have plans in place to hit targets.”

The pan-European FTSEurofirst 300 index was up .two percent at 1,521.64 points by 0852 GMT, also supported by a rise of .7 % in the STOXX 600 Standard Sources index as metals prices rose on the back of a weaker dollar.

The marketplace shrugged off information displaying activity in China’s manufacturing sector contracted a lot more than anticipated in November.

“General sentiment remains bullish,” Markus Huber, senior analyst at Peregrine & Black, said.

“However in light of this week’s crucial ECB meeting, Fed chief Yellen testifying on Capitol Hill and Friday’s U.S. non-farm payroll, it wouldn’t come as too considerably of a surprise if investors, as an alternative of normally pouring extra new cash into stocks at the starting of a new month, might hold off till next week.”

Shares in TUI Group rose three.three percent right after its largest shareholder, Alexei Mordashov, increased his stake in the European travel and tourism group to 15.02 % from about 13 %.

On the downside, Linde fell 11 percent after the world’s biggest industrial gases business by sales cut its 2017 profit target, citing slower industrial production development weighing on its industrial gases unit.

Even so, Helvea Baader analysts mentioned the sharp damaging share price reaction may be a great entry point.

“We believe that Linde’s money flow need to nevertheless improve additional more than the coming years and that Linde’s consolidation story is on track,” they said in a note. (Editing by David Holmes)

European Commission approves Greek government help to Piraeus Bank

BRUSSELS Nov 29 The European Commission authorized on Sunday further Greek government aid to the country’s greatest lender Piraeus Bank on the basis of an amended restructuring plan soon after European Central Bank pressure tests showed the bank required further capital.

“The European Commission has approved further state aid of two.72 billion euros to Greek Piraeus Bank under EU state aid rules, on the basis of an amended restructuring plan,” the Commission said in a statement on Sunday.

“I welcome that Piraeus Bank has covered a significant element of its capital wants from private investors. This is a sign of market place self-confidence. The extra public help and further implementation of its restructuring strategy need to enable the bank to return to extended-term viability and continue supporting the recovery of the Greek economy.”

The ECB estimated the capital needs of Piraeus Bank at 4.93 billion euros. Of that, the bank raised 1.94 billion from private investors and supervisors also approved added capital actions of 271 million euros, the Commission stated.

The remaining 2.72 billion euros will be covered by the Greek government, which will get funds for that purpose from the euro zone bailout fund. (Reporting By Jan Strupczewski)

European shares rise to 3-month high in thin trade

* FTSEurofirst 300 index up .9 %

* Index hits highest level considering that August

* Infineon soars following final results, dividend beat expectations

* Wall Street shut for Thanksgiving (Adds closing costs)

By Danilo Masoni and Alistair Smout

MILAN/LONDON, Nov 26 European shares hit three-month highs on Thursday, rising in thin trade as expectations grew for aggressive European Central Bank (ECB) action subsequent week.

A solid quarterly report from chipmaker Infineon and a rebound in metal costs also supplied help.

The pan-European FTSEurofirst 300 index closed up .9 percent at 1,516.25 points, its highest level since August.

However, volumes have been just 65 percent of its 90-day average. Wall Street was closed for the U.S. Thanksgiving holiday.

The euro edged towards seven-month lows against the dollar as investors bet that the ECB would ease policy once again in December.

“Expectations surrounding the ECB are running quite high and this is driving European markets greater, weakening the euro and assisting them do much better than U.S. stocks,” Cassa Lombarda head of analysis and investment, Marco Vailati, stated.

“I think and hope the ECB will not disappoint but I realise that it won’t be that straightforward.”

Infineon climbed 12.9 % right after the chip maker posted greater-than-expected quarterly operating results and promised an increase in revenue for its newest economic year at the high end of analysts’ expectations.

“Infineon has established surprisingly resilient and is executing very well,” Kepler Cheuvreux analyst, Bernd Laux, mentioned, keeping his “hold” recommendation. “Based on its new guidance, the shares are not expensive any far more.”

The business also proposed a higher-than-anticipated dividend enhance to .20 euro a share.

The bullish update boosted other chipmakers, with STMicro up five.4 percent and Dialog Semiconductor up 4 %.

Remy Cointreau fell 3 % soon after reporting a 7.three pct fall in like-for-like present operating profit in the very first half, reflecting soft Chinese demand for its premium cognac.

Sector peer Royal UNIBREW, rose 7.7 percent right after reporting quarterly final results above analysts’ expectations and raising its medium-term core profit target.

Shares in renewable-power firm Abengoa slumped for a second day as insolvency proceedings continued. A possible investor backed out of a 350-million-euro deal to recapitalise the organization. The stock was down 30 %, following half its market place value was wiped out on Wednesday.

Mining stocks had been amongst the top gainers, rising 2.1 percent, as base metals prices rallied following falling to multi-year lows this week.

Auto stocks have been also in demand, with the sector index up two.3 percent, benefiting from weakness in the euro.

The sector was also helped by gains in Volkswagen, which rose three.five %, its tenth straight day of gains.

Baader Bank Helvea confirmed its “hold” rating on the stock and mentioned it remained cautious simply because of uncertain charges about VW’s emissions scandal.

Europe bourses in 2015: hyperlink.reuters.com/pap87v

Asset overall performance in 2015: hyperlink.reuters.com/gap87v

Today’s European study round-up RCH/EUROPE (Editing by Louise Ireland)

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European shares rise on ECB stimulus hopes Infineon shines

* Pan-European FTSEurofirst 300 index up .eight %

* Infineon soars following final results, dividend beat expectations

* BHP Billiton falls after downgrade

* Volkswagen leads gains by car makers (Adds detail)

By Danilo Masoni and Alistair Smout

MILAN/LONDON, Nov 26 European shares rose on Thursday, helped by developing expectations of aggressive European Central Bank action next week. A solid quarterly report from chipmaker Infineon and a rebound in metal costs also provided support.

The pan-European FTSEurofirst 300 index was up .8 % at 1,514.53 points right after gaining 1.four percent on Wednesday. The Euro STOXX 50 was up 1.1 percent.

The euro edged towards seven-month lows against the dollar as investors bet that the ECB would ease policy again in December.

“Expectations surrounding the ECB are operating really higher and this is driving European markets greater, weakening the euro and assisting them do far better than U.S. stocks,” said Marco Vailati, head of analysis and investment at Italy’s Cassa Lombarda. “I feel and hope the ECB will not disappoint but I realise that it will not be that effortless,” he stated.

Infineon climbed almost 14 percent right after the chip maker posted quarterly operating final results that have been greater than expected and promised an improve in revenue for its most current financial year at the high end of analysts’ expectations.

“Infineon has verified surprisingly resilient and is executing extremely properly,” said Bernd Laux, an analyst at Kepler Cheuvreux, keeping his “Hold” recommendation. “Primarily based on its new guidance, the shares are not expensive any a lot more.”

The firm also proposes a dividend increase to .20 euro a share, also higher than anticipated.

The bullish update boosted other chipmakers, with STMicro up five.six percent and Dialog Semiconductor up four.eight percent.

Remy Cointreau fell two percent following reporting a 7.3 pct fall in like-for-like present operating profit in the very first half, reflecting soft Chinese demand for its premium cognac.

An additional drinks company, Royal UNIBREW, rose eight.four percent following reporting quarterly outcomes above analysts’ expectations and raising its medium-term core profit target.

Abengoa shares slumped for a second day as the renewable-energy firm continued insolvency proceedings. A possible investor backed out of a 350 million-euro deal to recapitalise the business. The stock was down 23 %, soon after wiping out half its marketplace worth on Wednesday.

Mining stocks had been among the top gainers, rising 1 percent, as base metals rates rallied right after falling to multi-year lows early in the week.

But BHP Billiton fell three percent right after JP Morgan downgraded the stock to “underweight” from “neutral” and stated it was expecting a 50 % reduction in its dividend because of additional downside risk to copper prices.

Auto stocks had been also in demand, with the sector index adding two.six %, benefitting from weakness in the euro.

The sector was also helped by gains in Volkswagen, which rose 3.eight % and is set for a tenth straight day of gains.

Baader Bank Helvea confirmed its “hold” rating on the stock and stated it remained cautious, due to the fact of uncertain charges related VW’s rigging emissions tests for some of its automobiles.

Europe bourses in 2015: hyperlink.reuters.com/pap87v

Asset performance in 2015: hyperlink.reuters.com/gap87v

Today’s European research round-up RCH/EUROPE (Reporting by Danilo Masoni Editing by Keith Weir)

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European shares rise on ECB stimulus hopes Infineon shines

* Pan-European FTSEurofirst 300 index up .four %

* Infineon soars right after outcomes, dividend beat expectations

* BHP Billiton underperforms miners following downgrade

* Auto sector in demand led by Volkswagen (Adds information,)

By Danilo Masoni

MILAN, Nov 26 European shares rose on Thursday, helped by growing expectations of aggressive European Central Bank action next week, although a strong quarterly report from chipmaker Infineon and a rebound in metal prices also offered support.

The pan-European FTSEurofirst 300 index was up .38 percent by 0930 GMT soon after gaining 1.four percent on Wednesday , while the Euro STOXX 50 was up .53 percent.

“Expectations surrounding the ECB are operating really high and this is driving European markets larger, weakening the euro and helping them do greater than U.S. stocks,” mentioned Marco Vailati, head of study and investment at Italy’s Cassa Lombarda.

“I consider and hope the ECB will not disappoint but I realise that it will not be that effortless,” he mentioned.

Infineon climbed 12 % right after the auto and industrial chip maker posted higher-than-anticipated quarterly operating outcome and promised a revenue rise for its most recent financial year at the high end of analysts’ expectations.

“Infineon has confirmed surprisingly resilient and is executing extremely well,” mentioned Bernd Laux, an analyst at Kepler Cheuvreux, keeping his “Hold” recommendation. “Primarily based on its new guidance, the shares are not expensive any much more.”

The firm also proposes a dividend boost to .20 eur/share, also greater than expected.

Remy Cointreau fell two.six percent soon after the French spirits group reported a 7.3 pct fall in like-for-like present operating profit for the first half, reflecting soft Chinese demand for its premium cognac.

Still in the drinks sector, Royal UNIBREW rose 11 % following the Danish drinks business reported quarterly results above analysts’ expectations and raised its medium-term core profit target.

Abengoa shares slumped for a second day as the renewable power firm continued insolvency proceedings right after a potential investor backed out of a 350 mln euro deal to recapitalise the firm. Soon after wiping out half of its industry worth on Wednesday the stock was down 14 percent.

Most sectors nonetheless were in positive territory.

Mining stocks were among the leading sectoral gainers with a rise of 1 percent, as base metals costs staged a broad-based rally after an early-week rout that pulled rates to multi-year lows.

But BHP Billiton underperformed its sector to fall 2.eight % after JP Morgan downgraded the stock to underweight from neutral and said it was factoring a 50 percent reduction in its dividend due to a additional downside danger to copper prices.

Auto stocks were also in demand, with the sector index adding 1.four percent, helped by gains in Volkswagen. Baader Bank Helvea confirmed its hold rating on the stock and stated it remained cautious due to uncertainties on future expenses related to the diesel engines emission scandal.

Europe bourses in 2015: hyperlink.reuters.com/pap87v

Asset efficiency in 2015: link.reuters.com/gap87v

Today’s European research round-up RCH/EUROPE (Reporting by Danilo Masoni Editing by Keith Weir)

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German interior minister calls for European refugee cap: newspaper

Globe | Thu Nov 26, 2015 2:15am EST

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VIENNA Europe ought to set a “generous” limit on the quantity of refugees it requires in a year, German Interior Minister Thomas de Maiziere said in a newspaper interview published on Thursday.

“When the quota is filled, there are no additional entries in the year,” he stated in the interview with Austrian newspaper Der Common when asked how his proposal would function.

(Reporting by Francois Murphy Editing by Dominic Evans)

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