Arab Today, arab today european stocks rise before g7 with eyes on greece
Last Updated : GMT 07:03:56
Arab Today, arab today
Arab Today, arab today

European stocks rise before G7, with eyes on Greece

Arab Today, arab today

Arab Today, arab today European stocks rise before G7, with eyes on Greece

European stocks
London - AFP

European equity markets rose Wednesday before a G7 finance meeting that will focus on Greece's debt drama, while airlines group IAG neared its takeover of Irish rival Aer Lingus.

Finance ministers and central bank governors of the Group of Seven (G7) wealthiest nations are meeting in Dresden to discuss the global economy and financial regulation, with Athens on the agenda amid stubborn fears of a Greek eurozone exit.

German Finance Minister Wolfgang Schaeuble has invited his counterparts and their central bank chiefs from Britain, Canada, France, Italy, Japan and the United States, for the gathering which kicks off later on Wednesday.

In midday deals, London's benchmark FTSE 100 index of top companies rose 0.55 percent to 6,986.80 points, as investors also tracked the state opening of parliament and the legislative programme for Prime Minister David Cameron's newly-elected British government.

In Paris, the CAC 40 index added 0.55 percent to 5,111.30 points and Frankfurt's DAX 30 won 0.19 percent to 11,647 compared with Tuesday's closing level.

The European single currency advanced to $1.0924 on bargain-hunting from $1.0879 late in New York on Tuesday, when it had struck a one-month low at $1.0863 on Greek debt repayment concerns.

- Greek fears on hold? -

"The FTSE 100 is trading higher as the G7 meeting gets underway," said analyst David Madden at trading firm IG.

"Greece will be a topic for discussion at the G7 meeting in Dresden, and even though Greek fears have been put on hold today, the rally in European equities will be restricted because of it."

International Monetary Fund managing director Christine Lagarde, Eurogroup chief Jeroen Dijsselbloem, European Central Bank chief Mario Draghi and the EU Commissioner For Economic and Monetary Affairs, Pierre Moscovici -- all key players in the Greek dossier -- will all be at the G7 meeting.

The IMF, ECB and EU Commission -- previously known as the "troika" of Greece's creditors -- are currently trying to hammer out a Greek debt deal in return for pledges by Athens to push through crucial economic reforms.

As a June 5 repayment deadline looms, the two sides have still not reached a deal that will unlock the last batch of bailout money.

There are growing fears that a Greek default could see the country tumbling out of the eurozone, spooking global investors and markets.

"Negotiations between Greece and creditors are scheduled to be resumed today in Brussels while the situation concerning Greece will also certainly feature at a G7 meeting in Dresden," said analyst Markus Huber at the Peregrine & Black brokerage.

- Airline stocks fly higher -

London was boosted after the Irish government agreed Tuesday to sell its 25-percent stake in Aer Lingus to British Airways owner International Airlines Group (IAG).

IAG's takeover deal offers Aer Lingus shareholders 2.55 euros a share -- 2.50 euros plus a 0.05 euros dividend -- valuing it at 1.36 billion euros ($1.7 billion).

The announcement sent IAG's share price 0.83 percent higher to 549 pence in London on Wednesday, while Aer Lingus shares won 2.63 percent to 2.44 euros in Dublin.

However, the takeover now hinges on the next move by Ryanair -- which owns almost 30 percent of the Irish flag-carrier.

Shares in cigarette maker Imperial Tobacco rallied 2.44 percent to 3,364 pence after Reynolds American won regulatory approval to sell its Winston, Kool, Salem and Maverick brands to the British firm.

In foreign exchange trade, the dollar sat around eight-year highs against the yen on the increased likelihood of a Federal Reserve interest rate hike.

Modest improvements in US consumer confidence, home sales and prices, as well as orders for core industrial goods, pointed to a pick-up in growth in the world's biggest economy.

In Asian stock market deals on Wednesday, Tokyo clocked up a ninth straight gain thanks to a weaker yen while Shanghai jumped for a seventh session as investors bet on China unveiling more economy-boosting measures.

However, most other markets in Asia retreated on the heels of a sell-off on Wall Street.

New York's Dow Jones Industrial Average dropped 1.04 percent Tuesday on a strengthening US dollar, which hurts exporters.

 

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 before g7 with eyes on greece Arab Today, arab today european stocks rise before g7 with eyes on greece

 



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 Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of 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 Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

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
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 Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

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 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

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