Arab Today, arab today europe stocks euro rise amid italy bailout talk
Last Updated : GMT 19:41:51
Arab Today, arab today
Arab Today, arab today

Europe stocks, euro rise amid Italy bailout talk

Arab Today, arab today

Arab Today, arab today Europe stocks, euro rise amid Italy bailout talk

London - AFP

European stocks and the euro surged on Monday largely on a report that the International Monetary Fund was in talks with Italy about a package to prop up the indebted country, traders said. The IMF denied the rumour but this did not stop major European indices rallying more than 3.0 percent and the euro rebounding back above $1.33 in early deals. Markets were also awaiting key bond auctions from Italy and France, as US rating agency Moody\'s warned that all European Union sovereign ratings were threatened by the current financial crisis. The OECD, which represents leading industrialised economies, was meanwhile preparing to publish its latest economic growth forecasts later on Monday. London\'s FTSE 100 stocks index jumped 1.87 percent in morning deals, while Frankfurt soared 2.90 percent, Paris surged 3.36 percent and Rome rallied 3.47 percent. The euro jumped to $1.3350 from $1.3240 on Friday in New York. \"The rally from a fundamental point of view is being assisted by rumours that the IMF are concocting some sort of elaborate bailout plan for Italy,\" said Simon Denham, head of Capital Spreads trading group in London. He added that stocks were also winning support from the \"eurozone stepping up a gear and exploring the idea of the ECB playing a critical role in sovereign debt intervention.\" A report on Sunday from the Italian newspaper La Stampa alleged that the IMF could bail out Italy with up to 600 billion euros ($800 billion) in aid. According to the report, the money would give Prime Minister Mario Monti a window of 12 to 18 months to implement urgent budget cuts and growth-boosting reforms \"by removing the necessity of having to refinance the debt.\" La Stampa said the IMF would guarantee rates of 4.0 percent or 5.0 percent on the loan -- far better than the borrowing costs on commercial markets, where the rate on two-year and five-year government bonds has gone above 7.0 percent. The International Monetary Fund denied the report in a brief statement issued on Monday. \"There are no discussions with the Italian authorities on a program for IMF financing,\" it said. The rumour meanwhile eased demand for the dollar and yen and pushed up the euro\'s value. \"The yen and US dollar have opened lower initially this week following another bout of rumours this weekend which have again renewed hope that a rescue package will soon be announced to dampen the escalating eurozone sovereign debt crisis,\" said Lee Hardman, an analyst at Bank of Tokyo-Mitsubishi UFJ. France had on Sunday warned that any problem with heavily-indebted Italy would affect the very heart of the eurozone. The statement from President Nicolas Sarkozy\'s office said: \"If there is an Italian problem, then it is the heart of the eurozone that is hit. It is up to Italy to do what it has undertaken to do.\" Sarkozy and German Chancellor Angela Merkel have said a debt collapse in Italy would be \"the end of the euro,\" Monti\'s press office said on Friday. Italy\'s 1.9-trillion euro public debt and low growth rate have spooked the markets in recent weeks, prompting concern that it could have to seek a bailout like fellow eurozone members Greece, Ireland and Portugal.  

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 euro rise amid italy bailout talk Arab Today, arab today europe stocks euro rise amid italy bailout talk

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
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 Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

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
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
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 Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

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 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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