Arab Today, arab today european stocks slip after ecb surprise
Last Updated : GMT 17:17:07
Arab Today, arab today
Arab Today, arab today

European stocks slip after ECB surprise

Arab Today, arab today

Arab Today, arab today European stocks slip after ECB surprise

German stock market Index
London - AFP

Europe's main stock markets dipped on Friday as investors digested the ECB's surprise deflation-fighting stimulus measures, and figures showed US unemployment dropped less than hoped, dealers said.
Investors were also anxiously tracking talks aimed at sealing a ceasefire in Ukraine, after almost five months of conflict.
By mid afternoon, London's benchmark FTSE 100 had fallen 0.48 percent to 6,845.22 points compared with Thursday's closing level.
Frankfurt's DAX 30 index gained 0.39 percent to 9,761.98 points but the Paris CAC 40 slid 0.05 percent to 4,492.59.
"Momentum has ground to a halt in the FTSE following the ECB’s statements yesterday, as traders have a distinct 'what now' mentality," said IG analyst Alastair McCaig.
- Eurozone economy stagnates: data -
The mood was also soured by official data confirming that the 18-nation eurozone economy stagnated in the second quarter with zero growth.
In foreign exchange activity, the European single currency recovered to $1.2974, down from $1.2945 late in New York on Thursday, when it had slumped to a 14-month low of $1.2920 after the ECB move.
The dollar meanwhile jumped to its highest level against the Japanese currency since the financial crisis, hitting 105.71 yen -- last seen in early October 2008 -- before pulling back to 104.91 yen.
"The euro has slightly rebounded -- however this has only regained a fraction of the losses seen yesterday where the currency dramatically tumbled off the back of an unexpected interest rate cut by the ECB," said Spreadex analyst Sam Fox.
The ECB cut its key interest rate to a record-low of 0.05 percent on Thursday, from 0.15 percent previously, and announced an asset-purchase plan in order to counter deflation pressures, boost lending and lift sluggish growth in the eurozone.
However, ECB President Mario Draghi stopped short of so-called quantitative easing (QE) -- but said the radical policy had been discussed.
The news pushed the euro down sharply and boosted European and US stocks on Thursday.
QE is a policy used by other central banks, such as the US Federal Reserve, of buying securities on a big scale to inject cash into the economy.
Concern is growing that the European economy, after making it through the euro sovereign debt crisis and the prospect of the collapse of the single currency, may now be poised for years of stagnation or unduly low growth.
"The measures have had the intended effect to push the euro lower," said CMC Markets analyst Michael Hewson.
"Without significant structural reform at the same time ... they merely defer the hard decisions and make the prospect of difficult discussions about full-blown QE that much more likely."
- Eyes on US data -
Adding to the dollar's strength is an expectation the Federal Reserve will bring forward an interest rate rise as the US economy picks up pace, while Bank of Japan chiefs consider further easing measures as they struggle with tepid growth.
On Friday the US Labor Department said unemployment had decreased by only 142,000 to 6.1 percent in August compared with the previous month.
Analysts had expected more than 200,000 new jobs, to maintain a six-month streak over that benchmark. This would have demonstrated consistent strength in the US economy.
Markets on Wall Street opened down. Five minutes into trading, the Dow Jones Industrial Average dropped 29.73 points (0.17 percent) to 17,039.85.
The broad-based S&P 500 dipped 2.82 (0.14 percent) to 1,994.83, while the tech-rich Nasdaq Composite Index lost 4.85 (0.11 percent) at 4,557.44.
In London currency deals, the single currency rose to 79.51 pence from 79.23 pence late on Thursday, while the pound dipped to $1.6315 from $1.6337.
The price of gold rose to $1,264 per ounce, down from $1,271.50 on Thursday on the London Bullion Market.

 

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 slip after ecb surprise Arab Today, arab today european stocks slip after ecb surprise

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 20:48 2017 Wednesday ,22 February

Dividend announcements drive Muscat bourse

GMT 16:56 2017 Wednesday ,22 February

Global gold prices drop

GMT 16:01 2017 Wednesday ,22 February

Tadawul edges down 0.2%

GMT 13:22 2017 Wednesday ,22 February

Canadian stock market closes at record high

GMT 11:50 2017 Wednesday ,22 February

Most Asia markets up as Hong Kong rebounds

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
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 Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
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 Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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