Arab Today, arab today european stocks slide despite better german data
Last Updated : GMT 18:37:34
Arab Today, arab today
Arab Today, arab today

European stocks slide despite better German data

Arab Today, arab today

Arab Today, arab today European stocks slide despite better German data

London - AFP

Europe\'s main stock markets slid on Tuesday, extending the previous day\'s losses despite improving German business sentiment as traders took further profits after last week\'s strong gains. London\'s benchmark FTSE 100 index dropped 0.83 percent to 5,844.85 points in late morning deals, Frankfurt\'s DAX 30 retreated 1.12 percent to 7,320.95 points and in Paris the CAC 40 slumped 1.31 percent to stand at 3,507.24. The Madrid market tumbled 1.90 percent and Milan plunged 2.26 percent. Spreadex trader Simon Furlong said markets were being hit by a combination of European debt and US growth worries despite recent central bank action, growing tensions between Japan and China and a cooler outlook for commodities. \"Concerns over Europe and slowing US growth came back to the market... as the euphoria of QE3 subsides,\" Furlong said. \"Asia traded lower as tensions between Japan and China over a territorial dispute escalated, causing many Japanese firms to suspend operations. \"Mining stocks are taking a hit this morning as worries for global metals prices hits home after Australia cut its revenue forecast for a key steel making ingredient by a fifth,\" the trader added. In foreign exchange deals, the euro slipped to $1.3082 from $1.3114 on Monday, when the European single currency had hit the highest level for 4.5 months at $1.3172 \"The loss of upward momentum for the euro... has coincided with tentative signs that eurozone sovereign debt yields are beginning to creep higher again after the significant downward adjustment following ECB policy action,\" said Lee Hardman, currency analyst at The Bank of Tokyo-Mitsubishi UFJ. \"The renewed pick up in yields is most evident in Spain with the 10-year government bond yields rising back towards 6.0 percent. \"The sharp decline in yields on the promise of unlimited ECB bond purchases has served to ease market pressure upon the Spanish government to request external support,\" he added. Investor sentiment in Germany rose for the first time in five months in September, data showed Tuesday, as the European Central Bank\'s new bond-buying programme helped boost confidence. The widely watched investor confidence indicator calculated each month by the ZEW economic institute climbed to minus 18.2 points in this month from minus 25.5 in August. \"This is the first rise in the indicator following four consecutive months of decline,\" ZEW said in a statement. \"The fact that the indicator remains in negative territory shows that financial market experts are continuing to forecast a cooling down of the German economy in the next six months,\" the statement said. \"Nevertheless, the end of the downward slide in September suggests that the experts believe the economic weakening will be only moderate.\" Stock market dealers meanwhile continued to bank profits after last week\'s huge gains sparked by the US Federal Reserve\'s stimulus plan. The US central bank on Thursday said it would start a third round of bond-buying, known as quantitative easing (QE3), in a bid to jumpstart the world\'s biggest economy. The announcement, which followed a European Central Bank plan to buy the debt of under-pressure eurozone nations, had injected global markets with some much-needed risk appetite on Friday. Tuesday\'s profit-taking was also supported by data showing the Fed\'s Empire State manufacturing index for the New York region fell for a second consecutive month in September. Anti-Japan protests across China also weighed, with three of Japan\'s biggest car makers saying they had closed their factories or cut production in China as a result. Tokyo and Beijing are locked in a political stand-off over a disputed group of islands in the East China Sea that have seen violent protests across China which have hit shares.

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 slide despite better german data Arab Today, arab today european stocks slide despite better german data

 



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 slide despite better german data Arab Today, arab today european stocks slide despite better german data

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
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 Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today China refuses visa to elderly India runner

GMT 15:01 2017 Tuesday ,26 September

China refuses visa to elderly India runner
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
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 Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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