european stocks retreat as investors eye greek talks
Last Updated : GMT 22:38:56
Arab Today, arab today
Arab Today, arab today

European stocks retreat as investors eye Greek talks

Arab Today, arab today

Arab Today, arab today European stocks retreat as investors eye Greek talks

London Stock Exchange
London - AFP

Europe's main stock markets faltered on Wednesday as investors nervously eyed Greece's efforts to renegotiate its vast international bailout deal.
Greek Prime Minister Alexis Tsipras visited Brussels and Finance Minister Yanis Varoufakis headed to Frankfurt on the latest leg of a tour to drum up support for Athens' planned renegotiation of its 240-billion-euro ($270-billion) international rescue.
Investors meanwhile shrugged off news of the Chinese central bank's latest bid to boost its faltering economy by cutting the level of funds that banks must hold in reserve by 0.50 percentage points.
In afternoon trading, London's benchmark FTSE 100 index dropped 0.83 percent to 6,814.58 points, Frankfurt's DAX 30 index shed 0.35 percent to 10,852.63 points and in Paris the CAC 40 slipped 0.14 percent to 4,671.58.
The euro declined to $1.1410 from $1.1479 late in New York on Tuesday.
Tsipras met European Commission president Jean-Claude Juncker, while Varoufakis held talks with European Central Bank president Mario Draghi in Frankfurt.
A Greek government source said Tsipras and Juncker had discussed plans to "jointly" create a four-year reform plan for Greece.
"The more prolonged this Greek-euro tour is, and the longer the discussions go on, the worse the markets will react as investors lose patience waiting for the outcome of this important debate," said analyst Connor Campbell at trading firm Spreadex.
European stocks had rallied for a second day on Tuesday on hopes of a deal on Greece's debt, with rebounding oil prices helping energy firms.
The gains continued in Asia, where equities jumped Wednesday.
Tsipras indicated Wednesday he believed it was possible to find a solution to the debt standoff between Athens and the EU.
"I am very optimist(ic) that we will try to do our best in order to find a common, viable and mutually acceptable solution for our common future," he said.
- Fruitful talks -
Varoufakis meanwhile said he had held a "very fruitful discussion and exchange" with Draghi, "which gives me a great deal of encouragement for the future".
In the run-up to the meetings, a report in the Financial Times had suggested that Draghi would take a tough line with Varoufakis and could even block a key element in Athens' plans to renegotiate its bailout.
"Investors are continuing to put their faith in the prospective plan put forward by Greek finance minister Varoufakis of a debt swap linked to growth linked bonds," said CMC Markets analyst Michael Hewson.
"It remains far from clear that EU policymakers will embrace this plan."
Back in Athens, the new Greek government held its first bond auction since taking office, raising 812.5 million euros in six-month treasury bills on a higher rate than last month.
The rate was 2.75 percent, compared with 2.30 percent secured on comparable bonds issued on January 7.
The sale, which was watched closely as an indication of investor confidence in the new government, attracted less interest than previously.
Athens stocks were flat after having soared over 11 percent on Tuesday.
On the corporate front, European pay-TV broadcasting giant Sky saw its share price jump to near the top of London's FTSE 100 risers board after posting soaring half-year profits.
Sky's share price rallied 1.80 percent to 960 pence.
The biggest loser was brokerage Hargreaves Lansdown, which slid 8.23 percent to 959 pence on falling interim earnings.
In Paris, shares in LVMH shot up 7.61 percent to 155.55 euros after in luxury group saw sales rise 6 percent last year to 30.6 billion euros.
Investors looked past the fact that if exceptional items were excluded, the company that makes Louis Vuitton handbags and Moet & Chandon champagne saw net and operational profit fall.
US stocks were mixed in early trade Wednesday.
The Dow Jones Industrial Average was up 0.14 percent to 17,691.40 points after 30 minutes of trading, helped by positive earnings by General Motors and Disney.
But the broader S&P 500 slipped 0.21 percent to 2,045.67, while the tech-rich Nasdaq Composite Index lost 0.28 percent to 4,714.53.

 

arabstoday
arabstoday

GMT 22:09 2017 Thursday ,23 November

Bahrain Bourse daily trading performance

GMT 02:02 2017 Thursday ,23 November

Asian markets rally after Wall St lead, euro struggles

GMT 22:40 2017 Wednesday ,22 November

Bahrain Bourse daily trading performance

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week
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*

european stocks retreat as investors eye greek talks european stocks retreat as investors eye greek talks

 



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*

european stocks retreat as investors eye greek talks european stocks retreat as investors eye greek talks

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Jordanian journalist happy of her career

GMT 17:37 2017 Thursday ,23 November

Jordanian journalist happy of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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