Arab Today, arab today european stocks rise before g7 with eyes on greece
Last Updated : GMT 16:10:08
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.

 

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

 



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 Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
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 Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
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 Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

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 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

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 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
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