Arab Today, arab today european equities slip focus on us budget talks
Last Updated : GMT 06:11:03
Arab Today, arab today
Arab Today, arab today

European equities slip, focus on US budget talks

Arab Today, arab today

Arab Today, arab today European equities slip, focus on US budget talks

London - AFP

European stock market indices dropped on Friday as investors focused on US budget talks to avert a fiscal crisis that could see hundreds of billions of dollars in automatic tax hikes and spending cuts tip the world\'s biggest economy into recession. Heightened tensions in the Middle East undermined sentiment further, traders said. At the close of trading, London\'s benchmark FTSE 100 index of top companies had given up 1.27 percent to 5,605.59 points and Frankfurt\'s DAX 30 index slid 1.32 percent to 6,950.53 points, the first time it has closed below 7,000 points since September 5. In Paris the CAC 40 dropped 1.21 percent to 3,341.52. The European single currency weakened to $1.2714 from $1.2778 late in New York on Thursday. The price of gold rose to $1,713.50 an ounce from 1,710.00 on the London Bullion Market . On Wall Street, the Dow Jones Industrial Average of leading stocks showed a loss of 0.44 percent in midday trading, while the tech rich Nasdaq index was off by 0.65 percent, with analysts pointing to an unexpected decline in the nation\'s industrial production in October. The broader Standard & Poor\'s 500 index was 0.73 percent lower after the US Federal Reserve reported that US industrial output fell 0.4 percent in October largely due to the impact of the devastating superstorm Sandy, which blasted the heavily industrialised northeast of the country at the end of the month. Most analysts had expected an increase of 0.1 percent. The data offset a Wall Street Journal report that White House officials were already in advanced internal talks about a plan to replace the massive \"fiscal cliff\" spending cuts due in January. \"Wall Street remains wary ahead of today\'s inaugural fiscal cliff negotiations between President Barack Obama and congressional leaders,\" noted Karee Venema at Schaeffer\'s Investment Research. Analyst Craig Erlam at the trading group Alpari said that \"expectations are understandably low regarding a positive outcome from the first meeting. These talks are likely to go on for weeks before they come to any kind of agreement. If the so-called fiscal cliff package of measures comes in as planned on January 1 the US economy would likely tip back into recession, which would have a devastating effect globally. Erlam warned: \"The fiscal cliff has taken over the eurozone recently as the greatest threat to the global recovery, which at best is gradual and very fragile.\" Financial markets were also on edge after Gaza militants fired rockets at both Jerusalem and Tel Aviv, aiming for Israel\'s political and commercial hearts and prompting the country to call up thousands more reservists in readiness for potential ground operations. The military wing of the Islamist Hamas movement which rules Gaza said it fired the rocket at Jerusalem, the first to strike the outskirts of the Holy City in the history of the Israeli-Palestinian conflict. Asian markets had traded mixed earlier in the day as eurozone recession data and US worries dented confidence, but Tokyo posted strong gains for a second straight session as the yen weakened further. Hong Kong stocks climbed 0.24 percent, Tokyo surged 2.20 percent and Seoul was 0.53 percent lower, while Shanghai shed 0.77 percent and Sydney closed down 0.29 percent. Tokyo\'s Nikkei index soared as the yen continued to be sold off following comments from the frontrunner to be the country\'s next prime minister that he would push for unlimited monetary easing. Shinzo Abe, a former prime minister and now leader of the Liberal Democratic Party, said he would seek more control of the central bank and push for strong stimulus measures to spur the economy. Japan\'s Prime Minister Yoshihiko Noda has dissolved the lower house of parliament Friday for an election on December 16, in a political gamble widely expected to strip his centre-left party of power.

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 slip focus on us budget talks Arab Today, arab today european equities slip focus on us budget talks

 



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 slip focus on us budget talks Arab Today, arab today european equities slip focus on us budget talks

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
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 Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
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 EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 05:54 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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