Arab Today, arab today europe stocks slip as us cliff eclipses japan vote
Last Updated : GMT 17:33:30
Arab Today, arab today
Arab Today, arab today

Europe stocks slip as US cliff eclipses Japan vote

Arab Today, arab today

Arab Today, arab today Europe stocks slip as US cliff eclipses Japan vote

London - AFP

Europe\'s main stock markets fell on Monday as investor worries over the impending US fiscal cliff overshadowed the election of a new leader in Japan, dealers said. In late morning deals, London\'s benchmark FTSE 100 index of leading shares fell 0.56 percent to 5,888.85 points, Frankfurt\'s DAX 30 index dipped 0.22 percent to 7,579.82 points and the Paris CAC 40 shed 0.69 percent to 3,618.21. The European single currency eased to $1.3157, up from $1.3161 late in New York on Friday. Gold prices fell to $1,689.69 an ounce on the London Bullion Market, from $1,696.25. Japan\'s conservative opposition swept to victory in national polls on Sunday as former premier Shinzo Abe\'s Liberal Democratic Party (LDP) ousted Prime Minister Yoshihiko Noda\'s Democratic Party of Japan (DPJ) from power. In reaction, Tokyo shares surged 0.94 percent and the yen slumped to a year-and-a-half dollar low, in a boon for exporters, as investors bet on more central bank easing by the country\'s incoming government. In earlier Asian trade, the dollar surged to 84.48 yen -- its highest since April last year. It later stood at 83.70 in London deals. However, other Asian stock markets ran out of steam as fears returned over the looming US fiscal cliff of automatic tax hikes and spending cuts that will be implemented on January 1, unless a political deal is reached in Washington. Hong Kong shed 0.41 percent, Seoul dropped 0.60 percent and Sydney closed down 0.21 percent in value. \"Traders are torn between the east and the west today,\" said analyst David Madden at trading group IG. \"The news that Shinzo Abe won the latest Japanese elections drove stocks higher overnight, but the dreaded (US) fiscal cliff has taken the edge off his victory. \"Mr Abe is in favour of further monetary easing, and stocks rallied as investors feel he is likely to appoint a governor to the Bank of Japan who will toe the line.\" European markets are subdued with just two weeks to go until the end of the year, which is usually witnesses low trading volumes. However, the fiscal cliff will remain top of the agenda as US politicans seek to avoid measures which could send the world\'s biggest economy back into recession, dealers said. \"With investors traditionally closing their books at the end of the year, the last two weeks of trading that are left should be quiet and peaceful with rather reduced volume,\" said Gekko Global Markets trader Anita Paluch. \"There is, however, one thing, that keeps everyone on their toes and this is the \'last minute\' nature of the fiscal cliff negotiation; any deal really could have a big effect on the markets. \"As the year\'s end is nearing and the prospects Capitol Hill may actually not come up with a deal till then, the price action may be driven by the news out of Washington.\" In company news on Monday, British oil giant BP said it had agreed to sell its 50-percent stake in a North Sea gas field to energy firm SSE for $288 million (219 million euros) as part of its divestment plans. BP shares retreated 0.76 percent to 423.20 pence in morning deals following news of the deal, which is due to complete in the first half of 2013. In Madrid, Banking giant Banco Santander announced it will absorb its Spanish offshoots Banesto and Banif, closing 700 branches and saving an estimated 520 million euros ($680 million) a year. In reaction, the bank\'s share price slid 0.71 percent to 5.86 euros on Madrid\'s IBEX 35 index, which was 0.18 percent lower at 8,010.30 points.

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 slip as us cliff eclipses japan vote Arab Today, arab today europe stocks slip as us cliff eclipses japan vote

 



Arab Today, arab today
Arab Today, arab today Rabia Fatima reveals role of "Facebook" in her career

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in 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 Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 13:40 2017 Thursday ,23 February

Muscat Securities Market loses 17 points

GMT 13:18 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 05:51 2017 Thursday ,23 February

Saudi stocks edge up as Brent futures rebound

GMT 20:48 2017 Wednesday ,22 February

Dividend announcements drive Muscat bourse

GMT 16:56 2017 Wednesday ,22 February

Global gold prices drop

GMT 16:01 2017 Wednesday ,22 February

Tadawul edges down 0.2%

GMT 13:22 2017 Wednesday ,22 February

Canadian stock market closes at record high

GMT 11:50 2017 Wednesday ,22 February

Most Asia markets up as Hong Kong rebounds
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 Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
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 Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 14:29 2017 Monday ,20 February

Prepares to present 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