Arab Today, arab today european equities drop in downbeat start to week
Last Updated : GMT 07:01:29
Arab Today, arab today
Arab Today, arab today

European equities drop in downbeat start to week

Arab Today, arab today

Arab Today, arab today European equities drop in downbeat start to week

Stock brokers work at the Frankfurt stock
London - AFP

Key European stock markets sank on Monday, getting the week off to a weak start as investors booked profits and frowned at poor German economic data, dealers said.
London's benchmark FTSE 100 index fell by 0.62 percent to close at 6,823.51 points.
The Paris CAC 40 gave up 1.41 percent to 4,405.76 points and Frankfurt's DAX 30 lost 1.03 percent to 9,906.07 compared with Friday's close.
On Wall Street, shares were also hit by profit taking and poor German output data as traders returned from a long Independence Day weekend.
In early deals, the Dow Jones Industrial Average was off by 0.37 percent at 17,004.90 points, while the broad-based S&P 500 lost 0.33 percent to 1,978.89.
The Nasdaq Composite Index, which is rich in technology shares, declined 0.34 percent to 4,470.82 points.
"The market is low on fuel and cannot see very far ahead. It has been a bit hesitant for several weeks moreover," noted Andrea Tueni, an analyst at Saxo Banque in Paris.
"The central banks have underpinned the market, but there are not enough positive elements to keep it rising," he added.
European equities gained ground last week, with Germany's DAX hitting a record high on surprisingly strong US jobs data and the European Central Bank's decision to keep its monetary policy loose.
- Downbeat German data -
On Monday, however, official data showed that German industrial output had contracted in May after being affected by the number of public holidays.
Official data from the eurozone's largest economy showed industrial production declined by 1.8 percent, after slipping by 0.3 percent in April.
Activity was undermined by the number of public holidays and bridging days, the ministry explained.
"Data... has disappointed markets with German industrial output falling 1.8 percent between April and May, significantly below market expectations of no change," commented broker Markus Huber at Peregrine & Black.
"This reading from Germany is in line with the poor data reports out of the European powerhouse in recent weeks in areas such as unemployment data, business sentiment and factory orders."
In company news, stock exchange operator Deutsche Boerse fell in Frankfurt after receiving a broker downgrade from Credit Suisse.
The group's share price slid 2.89 percent to 55.02 euros.
In London, SABMiller's shares dropped 1.25 percent to 3,355,00 pence after the Britain-based brewer announced it will seek to sell its $1.09-billion (800-million-euro) stake in South African leisure division Tsogo Sun.
SABMiller, which is listed in London and Johannesburg, said in a statement that after a strategic review it will dispose of its 39.6-percent stake in Tsogo Sun via a share placing and buyback.
On foreign exchange markets, the European single currency sank at one point to 79.15 British pence, a level last seen in September 2012.
In afternoon deals, the euro stood at 79.43 pence, up from 79.22 pence on Friday.
The pound meanwhile declined to $1.7128, from $1.7160 late on Friday, when it struck a six-year high point.
The euro also gained to $1.3604 from $1.3595 late on Friday in New York.
On the London Bullion Market, the price of gold weakened to $1,313 an ounce from $1,319.25 on Friday.

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 european equities drop in downbeat start to week Arab Today, arab today european equities drop in downbeat start to week

 



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 european equities drop in downbeat start to week Arab Today, arab today european equities drop in downbeat start to week

 



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 US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
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 Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
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 Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
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 Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
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 Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
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 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 Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

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 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

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