Arab Today, arab today asian shares steady on hope of eurozone plan
Last Updated : GMT 13:37:34
Arab Today, arab today
Arab Today, arab today

Asian shares steady on hope of Eurozone plan

Arab Today, arab today

Arab Today, arab today Asian shares steady on hope of Eurozone plan

Tokyo - Arabstoday

Asian shares and the euro steadied yesterday on hopes European leaders would agree on a definitive plan to solve the Eurozone\'s debt crisis at a crucial summit this week, with sentiment also getting a lift from Italy unveiling austerity steps. European stock markets were also expected to open higher, building on last week\'s biggest weekly gain since late 2008. But investors were wary of pushing markets much higher at the start of an eventful week, which also sees the European Central Bank\'s last monetary policy meeting for the year on Thursday, with an expectation for a rate cut. \"The market will be playing a tug-of-war this week, with any improvement in sentiment from a political progress in Europe being countered by year-end position-squaring,\" said Tetsuro Ii, chief executive officer of Commons Asset Management in Tokyo. He said financial institutions pressured to bolster their core capital would keep selling liquid assets including stocks and bonds, especially after such a sharp rally as last week\'s. MSCI\'s broadest index of Asia Pacific shares outside Japan rose as much as 0.3 per cent before paring most gains to stand flat. The index ended last week with its first weekly rise in a month, buoyed by joint global central bank liquidity action. Japan\'s Nikkei gained 0.6 per cent and outperformed most other Asian peers on an improved technical outlook, topping its 25-day moving average for the past three sessions. Financial spread betters predicted Britain\'s FTSE 100 to open as much as 0.2 per cent higher, Germany\'s DAX to gain as much as 0.3 per cent and France\'s CAC-40 to rise as much as 0.4 per cent. IMF in focus US stock index futures also rose, adding to their biggest weekly rally since March 2009 last week after data showing a drop in the US unemployment rate to a 2-1/2-year low reinforced views the economy remained on a recovery path. Shanghai shares were down 0.7 per cent, weighed by the latest data pointing to a cooling Chinese economy, with the HSBC Purchasing Managers\' Index for China\'s services sector falling to 52.5 from 54.1 in November for its slowest rate of growth in three months. Later yesterday, French President Nicolas Sarkozy and German Chancellor Angela Merkel meet to outline joint proposals for more coercive budget discipline in the Eurozone, which they want all 27 EU leaders to approve at Friday\'s summit. The focus at the summit will be squarely on new rules to tighten fiscal integration. An agreement could pave the way for an accelerated implementation of the Eurozone\'s rescue scheme to help ensure debt-ridden countries have a vehicle to tap for funds while encouraging bondholders to buy Eeurozone bonds. US Treasury Secretary Timothy Geithner kicks off his European visit today in Germany to meet ECB President Mario Draghi and Germany officials. He will join EU leaders later in the week. Ii at Commons Asset Management said Geithner\'s visit raised hopes of further discussion over the International Monetary Fund\'s involvement in the Eurozone debt crisis, as Europe seeks to boost the IMF\'s resources to enable it to provide a credible backstop should struggling Eurozone borrowers need an emergency loan programme. In a further sign Europe is making progress, four sources have told Reuters Germany is prepared to soften language in the Eurozone\'s permanent bailout mechanism compelling bondholders to accept losses in exchange for much stricter budget rules. Soaring costs Italy, one of the most severely debt-stricken Eurozone countries which has faced soaring borrowing costs, unveiled a €30-billion (Dh147 billion) package of austerity measures on Sunday, raising taxes and increasing the pension age. The euro climbed as high as $1.3435 on Italy\'s news, but was last at $1.3410, up marginally from late in New York. The euro may find some support due to the potential for short-covering, a trader for a Japan-ese bank said, as latest US CFTC data showed speculators increased their net short position.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian shares steady on hope of eurozone plan Arab Today, arab today asian shares steady on hope of eurozone plan

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday