Arab Today, arab today european stocks euro surge on fed stimulus
Last Updated : GMT 12:35:42
Arab Today, arab today
Arab Today, arab today

European stocks, euro surge on Fed stimulus

Arab Today, arab today

Arab Today, arab today European stocks, euro surge on Fed stimulus

London - AFP

European stock markets and the euro surged on Friday, boosted by US Federal Reserve plans to stimulate the economy, and putting aside concerns about inflation. At close, London\'s FTSE 100 index of top companies finished up 1.64 percent to 5,915.55 points, Frankfurt\'s DAX 30 gained 1.39 percent to 7,412.13 points, while in Paris the CAC 40 rallied 2.27 percent to 3,581.58 points. Milan soared 2.34 percent and Madrid jumped 2.75 percent. In midday trade on Wall Street, the rises were slightly more muted after US inflation data, with the Dow Jones Industrial Average up 0.30 percent, while the S&P 500-stock index added 0.52 percent and the tech-rich Nasdaq gained 0.98 percent. \"European markets have soared today as investors gorged themselves on the prospect of unlimited free cash from the Federal Reserve over the coming months as well as central banks around the world,\" said Michael Hewson, Senior Market Analyst at CMC Markets UK. \"Given the actions of the Fed yesterday evening, it is highly likely the ECB could well follow suit as it becomes apparent the European economic data also continues to disappoint and if Spanish yields start to rise again,\" he said. But, he warned: \"There is also the fact that a rising euro will do enormous damage to European export competitiveness at a time when the more indebted countries need a weaker currency, not a stronger one.\" In foreign exchange deals, the euro jumped to $1.3137, after hitting a four month high of $1.3169, from $1.2986 late in New York on Thursday. Analysts said the euro was being buoyed by a flight away from the dollar on expectations of higher US inflation caused by the added stimulus, and by receding worries over the eurozone debt crisis. \"The easing of eurozone sovereign debt tensions which were helping to unwind safe haven demand for the US dollar has provided the Fed with an opportune time to drive down the value of the US dollar through restarting the printing presses,\" said Lee Hardman, currency expert at The Bank of Tokyo-Mitsubishi UFJ in London. The Fed said it would unleash a huge open-ended bond-buying programme aimed at jumpstarting growth and boosting jobs in the world\'s largest economy. After a two-day meeting, the policy committee of the central bank said it would start a third programme to purchase $40 billion a month in mortgage-backed bonds, known as quantitative easing (QE3). The effect should spill through to the broader economy, pushing up the prices of homes, stocks, and other assets that, the Fed hopes, will make Americans feel more financially comfortable and begin spending. On the secondary sovereign bond markets, Italy\'s 10-year borrowing cost briefly dipped below 5.0 percent before ending the day at 5.017 percent from 5.013 on Thursday, while for Spain it rose to 5.785 percent from 5.630 percent. Elsewhere on Friday, shares in European aerospace group EADS were volatile amid scepticism about a proposal for the firm to tie up with British defence group BAE Systems. BAE shares have made a firm gain overall since the merger talks emerged. Shares in the European Aeronautic Defence and Space Company, which controls the maker of Airbus airliners, stabilised on Friday after plunging nearly 6.0 percent on Wednesday and by slightly more than 10.0 percent on Thursday. EADS shares ended Friday with a gain of 0.16 percent to 25.31 euros. In London, the price of shares in BAE Systems gained 2.08 percent to 344.1 pence. In Paris, one stock analyst who declined to be named, said in a comment on EADS shares: \"The rebound today is merely technical. The market is still sceptical about the project with BAE which would be very delicate to set up.\" In the US, a jump in energy costs sent US consumer prices higher in August, the Labor Department said, after the consumer price index was essentially flat for five straight months. The CPI rose 0.6 percent last month, underpinned by a 5.6 percent rise in the average retail costs of all types of energy, mainly gasoline.

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 stocks euro surge on fed stimulus Arab Today, arab today european stocks euro surge on fed stimulus

 



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 surge on fed stimulus Arab Today, arab today european stocks euro surge on fed stimulus

 



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 What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
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 Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
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 Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

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 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

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