Arab Today, arab today european stocks steady oil recovers
Last Updated : GMT 05:14:07
Arab Today, arab today
Arab Today, arab today

European stocks steady, oil recovers

Arab Today, arab today

Arab Today, arab today European stocks steady, oil recovers

Around midday in London
London - AFP

European stocks steadied Thursday as traders balanced recent sharp falls in world oil prices against fresh stimulus measures by the European Central Bank and China.
Around midday in London, the benchmark FTSE 100 index stood at 6,463.09 points, down 0.57 percent compared with Wednesday's close.
The CAC 40 in Paris eased 0.08 percent to 4,225.12 points while Frankfurt's DAX 30 won 0.28 percent to 9,826.71.
"It has been a mixed morning for European equity markets with some bourses showing signs of consolidation after three days of losses," noted Atif Latif, head of trading at Guardian Stockbrokers in London.
- Euro flattens -
The euro was almost flat at $1.2449 from $1.2446 late in New York on Wednesday, as the European Central Bank's latest liquidity injection for the region's banking sector dashed market expectations.
World oil prices meanwhile rebounded Thursday, after falling sharply to fresh five-year lows a day earlier when OPEC cut its forecast for demand in 2015 and US stockpiles saw a surprise surge, analysts said.
US benchmark West Texas Intermediate (WTI) for January delivery rose 44 cents to $61.38, having hit a July 2009 low of $60.43 on Wednesday.
Brent crude for January was up 60 cents at $64.84 in late Thursday morning trade, having hit a five-year trough of $63.56 the day before.
"Going forward I expect heavy oil prices to continue to weigh on any rallies in the stock markets, with oil stocks having further to fall," noted Alpari analyst Craig Erlam.
The sliding oil prices have also hurt Russia, with the central bank forced to jack up rates again by one percentage point to 10.5 percent to shore up the ruble. But the Russian currency swiftly touched a record low of 55.45 against the dollar and 68.98 against the euro.
Sentiment was lifted somewhat after China's central bank stepped up efforts to pump more cash into its banking system with a $65-billion fund injection, Dow Jones Newswires reported.
The People's Bank of China (PBoC) on Wednesday injected around 400 billion yuan into the interbank market where banks borrow from each other, Dow said, citing people familiar with the matter.
The latest injection has not been made public by the PBoC for fear that the market might read it as a strong signal of a broad monetary easing.
Across in Frankfurt, the ECB announced it had pumped more liquidity into the financial system in a bid to boost the eurozone economy -- but analysts said the uptake was disappointing and stoked hopes of quantitative easing (QE) stimulus.
The Frankfurt-based central bank said that 306 banks had borrowed 129.8 billion euros ($162 billion) in the second round of its lending programme of cheap, long-term loans aimed at boosting the economy.
Most analysts had forecast an uptake of around 150 billion euros under the Targeted Long-Term Refinancing Operation (TLTRO), which banks must repay by September 2018.
- QE hopes -
"The prospect of quantitative easing from the ECB, after the disappointing TLTRO take-up, is also supporting the markets today and are likely to continue to do so," added Erlam.
By pumping more liquidity into the financial system, the Frankfurt-based central bank aims to boost the eurozone economy via private-sector loans and, in turn, halt a stubborn drop in inflation.
Elsewhere on Thursday, the euro increased to 79.53 British pence from 79.21 late on Wednesday in New York. The British pound dipped to $1.5656 from $1.5712.
On the London Bullion Market, the price of gold declined to $1,219.50 an ounce from $1,229 late on Wednesday.

 

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 steady oil recovers Arab Today, arab today european stocks steady oil recovers

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today 17.4m tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4m tourists visit UAE in 2016
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 06:44 2017 Sunday ,26 February

Doubts grow over American stock market’s surge

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high

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
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 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

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 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
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