Arab Today, arab today european stocks falter on poor bank results
Last Updated : GMT 12:01:04
Arab Today, arab today
Arab Today, arab today

European stocks falter on poor bank results

Arab Today, arab today

Arab Today, arab today European stocks falter on poor bank results

LONDON - AFP

European stock markets slid on Thursday following a clutch of disappointing earnings updates from the region\'s banks and ahead of interest rate decisions and elections in Britain. London\'s benchmark FTSE 100 index fell 0.47 percent to 5,956.35 points in late morning deals. Frankfurt\'s DAX 30 dropped 0.19 percent to 7,359.14 points and in Paris the CAC 40 index shed 0.73 percent to 4,013.46. The Stoxx 50 index of leading eurozone companies retreated 0.83 percent to 2,927.74 points. London \"has been hampered after disappointing first-quarter results from Lloyds,\" said Manoj Ladwa, senior trader at ETX Capital. Britain\'s state-rescued Lloyds Banking Group reported on Thursday a net loss of £2.4 billion after setting aside a vast sum to compensate clients who were mis-sold payment insurance. The lender\'s share price slumped 7.96 percent to 53.41 pence in London trade. The net loss after tax of £2.4 billion (2.7 billion euros, $4.0 billion) for the three months to March 31 compared with a net profit of £169 million in the first quarter of 2010, LBG said in a results statement. LBG, 41-percent owned by the taxpayer, said it was allocating £3.2 billion to cover payouts to customers who were mis-sold payment protection insurance. In Paris, Societe Generale slumped 4.10 percent to 43.68 euros after the lender announced first-quarter net profits of 916 million euros ($1.36 billion), a 13.8 percent drop on the same period last year. That included a writedown of 239 million euros for the reevaluation of its own financial liabilities. Meanwhile, \"traders eyes remain transfixed on interest-rate decisions due out of the Bank of England and European Central Bank,\" said Joshua Raymond, an analyst at trading group City Index. \"Whilst the market is not expecting a change in rates from either decision, the market is of course wary of surprises.\" The next European Central Bank interest rate rise is at least a month away, analysts said, as ECB policymakers met in Finland on Thursday after Portugal became the third eurozone country to accept a financial rescue. Rising inflation will probably lead to higher lending rates in June or July, but the ECB\'s current benchmark of 1.25 percent looked safe for now as 78 billion euros in loans for Lisbon spotlighted the eurozone\'s debt woes. In London, the Bank of England is likely to keep interest rates at a record low level on Thursday as policymakers contemplate stagnant economic growth and lower consumer price inflation, according to economists. The British central bank\'s rate-setting monetary policy committee is forecast to hold its key lending rate at 0.50 percent, where it has stood since March 2009, amid renewed worries about the strength of the economy. Also on Thursday, Britons appeared set to reject a change in the way they elect their lawmakers as they voted in a national referendum that has threatened to tear the ruling coalition apart. Vitriolic campaigning for the vote opened up a rift between the centre-right Conservative party and the smaller Liberal Democrats just one year after they joined forces in an unlikely political marriage. Opinion polls indicate a landslide win for the campaign led by Conservative Prime Minister David Cameron to keep Britain\'s long-standing first past the post system, in which the candidate with the most votes wins. His deputy Nick Clegg, the leader of the centrist Lib Dems, looks set for a humiliating defeat in his campaign to introduce the alternative vote (AV), in which candidates are ranked by preference.

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 falter on poor bank results Arab Today, arab today european stocks falter on poor bank results

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 13:18 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 05:51 2017 Thursday ,23 February

Saudi stocks edge up as Brent futures rebound

GMT 20:48 2017 Wednesday ,22 February

Dividend announcements drive Muscat bourse

GMT 16:56 2017 Wednesday ,22 February

Global gold prices drop

GMT 16:01 2017 Wednesday ,22 February

Tadawul edges down 0.2%

GMT 13:22 2017 Wednesday ,22 February

Canadian stock market closes at record high

GMT 11:50 2017 Wednesday ,22 February

Most Asia markets up as Hong Kong rebounds

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
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 Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
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