Arab Today, arab today energy rolls royce shares sink as us and european markets tumble
Last Updated : GMT 06:20:07
Arab Today, arab today
Arab Today, arab today

Energy, Rolls Royce shares sink as US and European markets tumble

Arab Today, arab today

Arab Today, arab today Energy, Rolls Royce shares sink as US and European markets tumble

In afternoon trading, London's benchmark FTSE 100 index fell 1.8%
New York - AFP

European and US shares were hit by a broad sell-off Thursday, driven by a grim Rolls-Royce profit warning and another dump in crude prices that hit oil companies.
Disappointing earnings underpinned the gloomy mood on both sides of the Atlantic, amid worries that global growth is not turning around.

Charlie Bilello of Pension Partners said the signs of weakness were in the fall in prices of commodities such as oil and copper.

"That's putting pressure on the energy sector, materials sector, industrials -- anything related to global growth," he said.

Rolls-Royce, one of Britain's top industrial groups, slumped 19.6 percent after delivering its fourth profits warning in a year, as a result of weak demand in its aerospace and marine markets.

"While 2015 remains broadly as expected, the outlook for 2016 is very challenging," chief executive Warren East declared.

That helped the FTSE-100 index to shed 1.9 percent over the session.

"A cavalcade of concerns left the European indices in a uniform shade of red this morning, including a truly nightmarish performance from Rolls-Royce," said analyst Connor Campbell at traders Spreadex.
Energy shares suffered in both Europe and the US. In Frankfurt, German giant RW tanked 9.6 percent after saying 2015 profits would "only just" meet the company's forecast range, and rival E.ON sank 3.2 percent.

In Madrid, Repsol shares dived 7.3 percent after the Spanish oil giant revealed that it swung into the red in the third quarter.

On Wall Street, ExxonMobil lost 2.7 percent and Chevron shed 2.5 percent as crude prices dropped.

- Fed rate talk changes little -

Bilello said markets are also wary of the possibility of the Federal Reserve raising interest rates next month.

Several Fed officials, including Chair Janet Yellen, spoke in public Thursday, but their message mostly reiterated the last Fed policy statement -- that December was possible for a rate hike, as long as it is merited by the economic data.

"The question is will they hike if the market continues to go down like that," said Bilello, speaking on Thursday's losses. "The answer is 'no.'"
Indeed, the International Monetary Fund came down on the side of the Fed waiting, and for more stimulus from other major central banks, in a report on global economic conditions for the G-20 meeting in Turkey next week.

"Accommodative monetary policies remain essential in many advanced economies," the IMF said.

The Fed's decision "should remain data-dependent, with the first increase in the federal funds rate waiting until continued strength in the labor market is accompanied by firm signs of inflation rising steadily toward the Federal Reserve's two percent medium-term inflation objective," the IMF said.

The Bank of Japan, fighting weaker growth, "should stand ready for further easing," while the European Central Bank, itself mulling further growth stimulus efforts in the coming months, should make clear a strong commitment to its asset purchase program.

Amid such talk, the dollar slipped against the euro, back above the $1.08 line, and was lower against the yen and pound as well.

Key figures at 2200 GMT

New York - Dow: DOWN 1.4 percent at 17,448.07 (close)

New York - S&P 500: DOWN 1.4 percent at 2,045.97 (close)

New York - Nasdaq DOWN 1.2 percent at 5,005.08 (close)

London - FTSE 100: DOWN 1.8 percent at 6,178.68 (close)

Frankfurt - DAX 30: DOWN 1.1 percent at 10,782.63 (close)

Paris - CAC 40: DOWN 1.9 percent at 4,856.65 (close)

EURO STOXX 50: DOWN 1.8 percent at 3,387.70 (close)

Tokyo - Nikkei 225: UP 0.03 percent 19,697.77 (close)

Euro/dollar: UP to $1.0814 from $1.0741 in late US trade Wednesday

Dollar/yen: DOWN to 122.60 yen from 122.84 yen

 

arabstoday
arabstoday

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 energy rolls royce shares sink as us and european markets tumble Arab Today, arab today energy rolls royce shares sink as us and european markets tumble

 



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 energy rolls royce shares sink as us and european markets tumble Arab Today, arab today energy rolls royce shares sink as us and european markets tumble

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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