Arab Today, arab today european stocks advance on eurozone support statements
Last Updated : GMT 21:15:28
Arab Today, arab today
Arab Today, arab today

European stocks advance on eurozone support statements

Arab Today, arab today

Arab Today, arab today European stocks advance on eurozone support statements

London - AFP

European stock markets posted more solid gains Friday as Germany and France backed up a staunch defence of the euro by ECB chief Mario Draghi and the US reported better than expected growth in the second quarter. London\'s benchmark FTSE 100 index rose 0.97 percent to close at 5,627.21 points as the focus in the British capital turned towards the start of the Olympic Games. The Paris CAC 40 jumped by 2.28 percent to 3,280.19 points, while Frankfurt\'s DAX 30 was 1.62 percent higher at 6,689.40. In Madrid the Ibex 35 index surged by 3.91 percent, while in Milan the FTSE Mib was up 2.93 percent. In foreign exchange deals, the euro traded for $1.2369, up from $1.2280 in New York late Thursday, after reaching a three-week high of $1.2377 in intraday deals. Equities had already surged on Thursday after European Central Bank chief Draghi pledged unconditional support for the euro, reassuring investors ahead of the bank\'s interest rate meeting in Frankfurt next Thursday. And if markets began to have second thoughts about Draghi\'s comments, the message was reinforced Friday by German Chancellor Angela Merkel and French President Francois Hollande who vowed in a joint statement to do \"everything to protect the eurozone\" after telephone talks. The French daily Le Monde reported that the ECB was preparing concerted action with eurozone governments \"to save the euro.\" ETX Capital analyst Ishaq Siddiqi said that \"European markets finally found some impetus to push higher toward the latter half the session today.\" He added that the the euro had regained ground against the dollar and that sovereign bond yields had eased further \"on growing expectations that the ECB will finally comply with the markets\' wish for QE,\" or quantitative easing. If so, the central bank would adopt policies used already by the US Federal Reserve and Bank of England to encourage economic activity by pumping cash into the financial system. In New York, US stocks advanced in midday trading on second-quarter economic growth data and encouraging earnings from Dow member Merck. The Dow Jones Industrial Average was up 0.82 percent at 12,993.69 while the S&P 500-stock climbed 1.11 percent to 1,375.14 and the tech-rich Nasdaq rose 1.29 percent to 2,930.68. Before the market opened, the US Commerce Department reported that the world\'s largest economy slowed to an annual growth of 1.5 percent in the April-June period. \"That is lousy, but expectations had dropped so low that the spin is coming out as \'not too bad,\'\" said Dick Green at Briefing.com. Asian stock markets closed higher earlier and the euro held on to strong gains won overnight. Hong Kong shares rallied 2.02 percent, Tokyo climbed 1.46 percent, Seoul soared 2.62 percent and Sydney finished 1.50 percent higher. Looking ahead, European markets began to wonder about Italy\'s massive public debt of nearly two trillion euros. On Friday however, borrowing costs for both Italy and Spain dropped on public debt markets. The interest rate or yield on Italian 10-year debt dropped to 5.937 percent from 6.009 percent late on Thursday, while the equivalent Spanish issue fell to 6.658 percent from 6.828 percent. The drop in borrowing costs \"is due to Mario Draghi\'s intervention, which arrived at just the right moment,\" Cyril Regnat, bond specialist with the French bank Natixis, told AFP. The next test for Italy will be a medium- to long-term bond sale on Monday, at which the treasury hopes to raise up to 4.75 billion euros in five and 10-year bonds. In Spain meanwhile, the unemployment rate rose in the second quarter to 24.63 percent and a huge 53 percent among the young, despite the start of the tourist season.

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 stocks advance on eurozone support statements Arab Today, arab today european stocks advance on eurozone support statements

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 15:57 2017 Sunday ,26 February

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

GMT 15:41 2017 Sunday ,26 February

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

GMT 14:44 2017 Sunday ,26 February

Muscat shares fall on local selling

GMT 06:44 2017 Sunday ,26 February

Doubts grow over American stock market’s surge

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high
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 Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
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 Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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