Arab Today, arab today european stocks euro drop amid spain woes
Last Updated : GMT 18:32:42
Arab Today, arab today
Arab Today, arab today

European stocks, euro drop amid Spain woes

Arab Today, arab today

Arab Today, arab today European stocks, euro drop amid Spain woes

Madrid - AFP

European stocks and the euro fell on Friday amid fresh Spanish debt strains and as investors banked strong gains won over the past week, traders said. London\'s FTSE 100 benchmark index of leading shares dropped 0.40 percent to 5,691.52 points in late morning trade. Frankfurt\'s DAX 30 index dipped 0.07 percent to 6,754.04 points and in Paris the CAC 40 slid 0.44 percent to 3,249.43. Madrid shed 0.77 percent. In foreign exchange deals, the European single currency fell to $1.2259 from $1.2276 late in New York on Thursday. \"European markets are trading in a soft manner today, with clients consolidating this week\'s healthy gains across equities,\" said ETX Capital analyst Ishaq Siddiqi. \"Protests in Spain over austerity measures and a lack of detail on the bank bailout plans have pushed the country\'s 10-year bond yields back above the unsustainable seven percent mark. \"Fears are growing that austerity measures will not be able to alleviate pressure on Spain\'s borrowing costs, will eat away at economic growth and cause long-term hardship for the beleaguered nation,\" he added. The interest rate, or yield, on Spanish 10-year debt jumped above seven percent on Friday as eurozone finance ministers conferred by phone on aid to recapitalise Spanish banks. The rate climbed to 7.065 percent from 6.969 percent at the close of trading on Thursday, the first time it has breached 7.0 percent since July 9. In company activity, shares in Vodafone lost 2.08 percent to 179.25 pence, making them the biggest faller on the London FTSE 100 index. The British mobile phone giant on Friday said revenues dropped by nearly eight percent in the group\'s first quarter on weak sales across southern Europe, notably in the eurozone\'s worst-hit nations. Vodafone said revenue fell 7.7 percent to £10.76 billion ($16.89 billion, 13.78 billion euros) in the three months to June 30 compared with the same quarter in 2011. Chief executive Vittorio Colao pointed to \"difficult market conditions, particularly in southern Europe.\" The company noted that \"growth in Germany and Turkey was offset by declines in most other markets, in particular, Italy, Spain, Greece and Portugal.\" Nokia slumped 4.56 percent to 1.46 euros as international ratings agency Fitch downgraded the long-term debt of the Finnish telecommunications equipment maker by two notches from \"BB+\" to \"BB-\" and said the outlook was negative. Fitch noted in a statement that it had said previously that it would take such a move if the agency \"was not convinced that Nokia could stabilise the revenue declines and be capable of generating positive single digit operating margins in its Devices and Services division.\" In other company news, Dutch beer group Heineken announced a Sg$5.1 billion ($4.1 billion) bid for Singapore\'s Asia Pacific Breweries (APB) to boost its presence in the region\'s booming alcohol market. Heineken said it had offered to pay Sg$50 a share for APB parent Fraser & Neave\'s (F&N) entire stake in the brewer, a premium of Sg$8 over its Thursday closing price. Analysts said the move could trigger a takeover battle with Thai and Japanese investors for control of APB, which makes Tiger beer and other brands that are popular across Asia. Earlier on Friday, Asian stock markets mostly closed lower as profit-taking after the previous day\'s rallies overshadowed another strong performance on Wall Street. Tokyo fell 1.43 percent, Sydney was 0.18-percent lower and Seoul was virtually unchanged. On Wall Street, shares enjoyed a third day of gains Thursday thanks to upbeat earnings figures from some of the country\'s biggest firms. IBM posted better-than-expected quarterly profits and raised its full-year estimate, while online auction house eBay said its profit more than doubled in the April-June period. While Washington reported weak jobs and housing data, dealers seemed to be unfazed owing to expectations of more stimulus measures to prop up the world\'s biggest economy.

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 euro drop amid spain woes Arab Today, arab today european stocks euro drop amid spain woes

 



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 To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

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

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
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 Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

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