Arab Today, arab today european stocks euro rise on upbeat france bond sale
Last Updated : GMT 06:27:20
Arab Today, arab today
Arab Today, arab today

European stocks, euro rise on upbeat France bond sale

Arab Today, arab today

Arab Today, arab today European stocks, euro rise on upbeat France bond sale

London - AFP

European stock markets rose and the euro climbed against the dollar Thursday following positive government bond sales by France and Spain despite last week\'s downgrades for the eurozone countries. Sentiment was also boosted by positive US economic data overnight and International Monetary Fund plans to boost its coffers for crisis fighting, helping to offset some weak earnings news. In European midday trade, the Paris CAC 40 rose 0.76 percent to 3,289.61 points and Madrid\'s IBEX 35 jumped 1.0 percent to 8,504.40. Frankfurt\'s DAX 30 climbed 0.24 percent to 6,369.63 points and London\'s FTSE 100 grew 0.20 percent to 5,713.94. The euro rallied to $1.2917 from $1.2862 late in New York on Wednesday. \"Strong and healthy demand (for French and Spanish debt) demonstrated how undisturbed the markets were by the recent S&P downgrade that deprived France its triple A rating,\" Gekko Global Markets trader Anita Paluch told AFP. \"It seems there is little concern when it comes to the perception of risk as the cost of borrowing for both nations have fallen. It proves the liquidity is abound and that Spain\'s efforts of easing the pressure on its finances is bearing its fruits and was well received in the markets too.\" France on Thursday raised 1.5 billion euros in a medium- and long-term bond auction at lower rates than previous sales despite a credit rating downgrade last week, officials said. The sale of four, 10 and 28 year bonds came after France earlier Thursday raised 7.965 billion euros in a short- and medium-term bonds, also at lower rates, in its first auctions since Standard & Poor\'s stripped the country of the top AAA rating. France\'s rating downgrade that came last Friday could theoretically expose it to higher interest rates on its long-term bonds, although markets had already largely factored in their woes in previous auctions and banks. Spain\'s borrowing costs also tumbled Thursday in an issue of benchmark 10-year bonds, a key part of a debt auction that raised far more money than first planned. Spain, whose credit rating dropped two notches from AA- to A last week, sold a total 6.609 billion euros in the auction of four-, seven- and 10-year bonds -- well above the target of 3.5-4.5 billion euros. \"The biggest news of the morning is that the French and Spanish bond auctions attracted strong demand and yields fell, which is exactly what the EU wants to see,\" said Kathleen Brooks, an analyst at traders Forex.com. The successful bond sales came a day after the IMF said it planned to add $500 billion to its war chest, a move understood to be aimed at stalling fallout from the eurozone crisis and preventing a global recession. \"The IMF news was certainly taken positively by the market because it\'s a step in the right direction, but it\'s going to be a long road,\" said Justin Gallagher, RBS head of sales trading and execution in Sydney. Meanwhile on Thursday, it emerged that the IMF had given approval for talks on new rescue loans to Greece. \"After a waiting period of several weeks, the green light has been given for the country to submit to the IMF a request to begin procedures for the new programme,\" Greek Finance Minister Evangelos Venizelos told parliament. Elsewhere on Thursday, investors digested a raft of trading updates, including from Europe\'s biggest retailer Carrefour. Shares in the French supermarket giant slid 2.23 percent to 17.07 euros in midday Paris trade after Carrefour posted flat fourth quarter sales and said its 2011 operating profit could be up to a fifth lower than in 2010.  

arabstoday
arabstoday

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

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 rise on upbeat france bond sale Arab Today, arab today european stocks euro rise on upbeat france bond sale

 



Arab Today, arab today

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 rise on upbeat france bond sale Arab Today, arab today european stocks euro rise on upbeat france bond sale

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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