Arab Today, arab today european stocks stable after moody\s downgrades
Last Updated : GMT 18:35:55
Arab Today, arab today
Arab Today, arab today

European stocks stable after Moody\'s downgrades

Arab Today, arab today

Arab Today, arab today European stocks stable after Moody\'s downgrades

London - AFP

European stocks steadied Tuesday but sentiment remained fragile after Moody\'s cut ratings on six European nations overnight and placed three others, including France and Britain, on negative outlook due to the eurozone crisis. London\'s FTSE 100 rose 0.10 percent to 5,911.52 points in late morning trade, clawing back earlier losses. Frankfurt\'s DAX 30 added 0.36 percent to 6,762.55 points and the Paris CAC 40 firmed 0.20 percent to 3,391.28 points. In foreign exchange deals, the European single currency firmed to $1.3194 from $1.3191 late on Monday in New York. European shares had rallied on Monday after Greek lawmakers approved disputed austerity measures that mark a key step to obtaining crucial European Union and International Monetary Fund aid for the debt-laden eurozone member. \"Just as fears subsided on Monday, following the news on satisfactory austerity measures ratified by Greek parliament, another round of Moody\'s downgrades and outlook warnings for some of the EU countries took the wind out of the equities\' sails,\" said trader Anita Paluch at Gekko Global Markets. \"This does not, however, come as a total surprise, as Moody\'s merely follows similar moves done already by S&P and Fitch last month. \"But Greece still remains in the background since the bailout still needs the EU approval and Germany and other nations are not entirely convinced the country could carry out all necessary actions as demanded by the creditors.\" Overnight, Moody\'s chopped the debt ratings of Italy, Spain and Portugal and put top \'Aaa\'-rated France, Britain and Austria on warning, arguing that they were increasingly vulnerable to the long-running eurozone crisis. Austria, France and Britain were all put on negative outlooks -- a warning that if conditions worsen they could be hit with full downgrades. \"Moody\'s rating downgrades and negative outlooks for the UK and eurozone will likely dominate market sentiment first thing,\" said VTB Capital economist Neil MacKinnon. \"There are still plenty of uncertainties surrounding an early resolution of the Greek crisis too.\" Asian markets were mostly lower on Tuesday after Moody\'s action. The move came after Greek lawmakers pushed a package of austerity cuts late Sunday, with Premier Lucas Papademos saying the measures were \"the country\'s only hope\" to avoid economic meltdown and secure another bailout. European finance ministers will meet Wednesday in Brussels to sign off on the Greek deal necessary for a Europe-sponsored rescue package, followed by an offer to private sector holders to write-down by about a half their holdings of Greek government bonds. \"Moody\'s adjustment of sovereign debt ratings really took the shine off the positivity seen in the markets yesterday amid the news from Greece,\" said broker Owen Ireland at Valbury Capital. \"Almost all indices across the Asia pacific region were in the red and this negativity may well be seen in markets across the globe today.\" In Asian markets, Shanghai shed 0.30 percent, Seoul ended down 0.15 percent and Sydney closed 0.99 percent lower. However, Tokyo clawed back early losses to close up 0.59 percent after the Bank of Japan said it was easing monetary policy by pumping an extra 10 trillion yen ($130 billion) into an asset purchase programme, aimed at battling the deflation that has wracked Japan\'s economy for years.  

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 stable after moody\s downgrades Arab Today, arab today european stocks stable after moody\s downgrades

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
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