Arab Today, arab today european stocks rise
Last Updated : GMT 15:00:15
Arab Today, arab today
Arab Today, arab today

European stocks rise

Arab Today, arab today

Arab Today, arab today European stocks rise

London - AFP

European stock markets rose on Tuesday as solid US housing data outweighed Moody\'s stripping France of its coveted triple-A rating. The Paris CAC 40 index shook off early lows and rallied to close 0.65 percent higher at 3,462.06 points even as Moody\'s cut the country\'s bond rating by one notch to \"Aa1\", citing structural weaknesses in the French economy, slow reform, and French exposure to troubled eurozone countries. London\'s FTSE 100 index of top companies gained 0.18 percent to 5,748.1 points and Frankfurt\'s DAX 30 rose 0.69 percent to 7,172.9 points. \"Global headline shares moved off earlier lows as better than expected housing starts data from the US provided bulls with enough ammunition to slowly wrestle some control back from the bears,\" said Spreadex trader Shavaz Dhalla. \"Despite this, investors are finding it difficult to shake news that Moody’s has stripped France of its top credit rating and that coupled with yesterday’s giant gains within the global equities market was enough of an incentive for investors to shy away from risk-on assets,\" he said. US home construction rose again in October following September\'s strong surge, the Commerce Department said Tuesday in a further sign of recovery in the housing market. Housing starts rose 3.6 percent from October, surprising analysts who had expected a fall after the big September jump. But US stocks moved lower Monday after Hewlett-Packard reported a quarterly loss due in part to a massive writedown, offsetting the housing recovery. The Dow Jones Industrial Average fell 0.15 percent in midday trade, while the S&P 500-stock index remained unchanged and the tech-rich Nasdaq Composite slipped 0.10 percent. Wall Street had surged on Monday on the upbeat housing data and hopes that politicians will find a way to avoid the so-called \"fiscal cliff\" of automatic tax hikes and spending cuts in January. European equities had also soared on Monday on rising prospects that Washington can reach a deal, but sentiment soured following the France downgrade. \"After yesterday\'s temporary respite, equity markets are looking strained once again after that Moody\'s downgrade of France served to heighten fears surrounding the eurozone crisis once more,\" said analyst Fawad Razaqzada at traders GFT. \"With the Eurogroup meeting today to discuss Greece\'s position, this latest development is something of an unwanted distraction, although perhaps some solace should be taken from the fact Paris has only received a one notch demotion.\" In foreign exchange activity, the European single currency eased to $1.2815 from $1.2816 late in New York on Monday. Gold prices rose to $1,732.25 an ounce from $1,730.50 on the London Bullion Market on Monday. France meanwhile insisted on Tuesday it was still a good investment destination. \"I would like to put in perspective the impact of this decision,\" said government spokeswoman Najat Vallaud-Belkacem. \"France still represents sound value, it is in second place just after Germany,\" she told France Inter radio. Moody\'s was the second of the three major ratings agency to cut France\'s gilt-edged triple A rating. Standard and Poor\'s did so in January but Fitch has maintained its assessment of French debt so far. Eurozone finance ministers began talks in Brussels over a likely agreement to hand debt-plagued Athens the latest instalment of cash it needs to avoid bankruptcy. The head of the Eurogroup, Jean-Claude Juncker,said eurozone finance ministers have a good chance of reaching agreement on payment of long-awaited aid to Greece. \"Greece has delivered. (There are thus) good chances of an agreement,\" he said. The ministers will also try to heal a split with the International Monetary Fund (IMF) over a key debt reduction target. Meanwhile, Asian equity markets traded mixed earlier in the day. Tokyo ended the day 0.12 percent lower, Hong Kong fell 0.16 percent, while Sydney rose 0.56 percent and Seoul gained 0.64 percent.

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 rise Arab Today, arab today european stocks rise

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar

GMT 13:40 2017 Thursday ,23 February

Muscat Securities Market loses 17 points

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
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
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 Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
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 Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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