Arab Today, arab today europe stocks climb on fiscal cliff deal hopes
Last Updated : GMT 12:25:59
Arab Today, arab today
Arab Today, arab today

Europe stocks climb on fiscal cliff deal hopes

Arab Today, arab today

Arab Today, arab today Europe stocks climb on fiscal cliff deal hopes

London - AFP

Europe\'s main stock markets climbed on Tuesday as investors welcomed signs of progress in talks on a new deficit-cutting budget to avoid the so-called fiscal cliff in the United States, dealers said. In late morning deals, London\'s benchmark FTSE 100 index of leading shares rose 0.40 percent to 5,935.72 points, Frankfurt\'s DAX 30 index won 0.53 percent to 7,644.98 points and the Paris CAC 40 climbed 0.10 percent to 3,641.91. Milan\'s FTSE Mib index added 0.44 percent to 16,075.25 points, ahead of a key budget vote by the Italian parliament, while Madrid\'s IBEX 35 gained 0.95 percent to 8,117.2 points. \"Stocks are gaining altitude this morning as investors, confident that the fiscal cliff drama will be solved this side of Christmas, resume buying,\" said Mike McCudden, head of derivatives at online brokerage Interactive Investor. \"Talk of President Obama changing his stance over tax hikes for the wealthy is being heralded as the breaking of one of the final barriers to a resolution.\" The European single currency firmed to $1.3181, up from $1.3161 late in New York on Monday. Gold prices advanced to $1,701.25 an ounce on the London Bullion Market, from $1,695.75. In company news, Rolls-Royce shares rallied 0.93 percent to 867.50 pence in London after it confirmed a $1-billion contract with Japan\'s Skymark Airlines for Trent 900 engines to power six Airbus A380 aircraft. Asian equities mostly rose on Tuesday, taking a lead from Wall Street as dealers grow confident US lawmakers will reach an agreement. Politicians are seeking to break the deadlock and avert automatic taxation hikes and spending cuts that are due to come into effect on January 1 in the United States. Experts fear that the fiscal cliff package could tip the world\'s biggest economy back into recession. \"Giving markets a boost is a late rally in US stocks yesterday evening carrying over to European markets this morning as President Obama indicated that he would be willing to raise the income threshold by which tax increases would come into effect,\" said ETX Capital trader Markus Huber. \"As expected -- with the end of the year approaching fast (and) a rather empty economic data schedule ... focus will mostly be on US budget negotiations with the smallest hint of progress or setback can have a substantial impact on the markets,\" he said. Any indication that there is some movement in the budget negotiations and that the two parties are making an effort to find a solution \"is enough to keep markets moving higher,\" added Huber. President Barack Obama hosted top Republican lawmaker John Boehner in the White House for 45 minutes on Monday in the latest effort to avert going over the fiscal cliff. The meeting follows news that Boehner had changed his position on not allowing any more taxes, saying at the weekend that he would agree to some hikes for people earning more than $1 million. Originally Obama insisted higher taxes kick in for households earning more than $250,000, but has since offered to increase the threshold to $400,000. Analysts say the development shows the outline of a tentative deal is being formed. Continued weakness of the yen helped send Japanese shares surging for a second straight session as Shinzo Abe prepares to take over as prime minister, vowing to press a more aggressive policy of monetary easing. Tokyo rose 0.96 percent and Seoul was up 0.51 percent, while Sydney added 0.48 percent. Shanghai increased by 0.10 percent, while Hong Kong gave up earlier gains to end flat. The election of Abe and his Liberal Democratic Party on Sunday was widely expected and investors now expect the Bank of Japan to unveil a further loosening of monetary policy at the end of its two-day meeting on Thursday. In Tokyo share trading, utility giant TEPCO, which runs the Fukushima plant at the centre of last year\'s nuclear crisis, surged 17.32 percent on expectations the new government will shelve any short-term plans to ditch atomic power.

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 europe stocks climb on fiscal cliff deal hopes Arab Today, arab today europe stocks climb on fiscal cliff deal hopes

 



Arab Today, arab today
Arab Today, arab today Kanye West puts hijab-wearing model

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 17:36 2017 Monday ,13 February

Designer prepares to present 2017 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