Arab Today, arab today european stocks wobble on eve of rate calls
Last Updated : GMT 11:39:24
Arab Today, arab today
Arab Today, arab today

European stocks wobble on eve of rate calls

Arab Today, arab today

Arab Today, arab today European stocks wobble on eve of rate calls

Investors were on edge
London - AFP

Europe's main stock markets wobbled on Wednesday, with caution prevailing on the eve of interest rate decisions in Britain and the eurozone, dealers said.
London's FTSE 100 index of top companies 0.26 percent to 6,818.63 points, taking a hit from poor quarterly earnings from Britain’s biggest retailer Tesco.
The CAC 40 in Paris slipped 0.06 percent to 4,501.00 points, but Frankfurt's DAX 30 added 0.07 percent to 9,926.67 points.
Milan slid 0.16 percent and gave up 0.20 percent.
"It was sour trading in Europe today with mixed services PMIs on the continent and weak US employment and trade data adding to a general unwillingness of traders to take big positions ahead of tomorrow’s ECB rate-setting meeting," said analyst Jasper Lawler at CMC Markets UK.
The European Central Bank is nearly universally expected to cut interest rates from already record lows in order to prevent the eurozone sliding into a bout of dangerous deflation.
Analysts are however divided about what other measures the ECB might take to support the economy, and many investors have been reluctant to take positions.
European stocks pushed down after the services purchasing managers index (PMI) compiled by data firm Markit showed the French economy still stagnating and raised concern about the potential impact of the Ukraine crisis on German companies that are highly dependant on exports.
The slid further after US payrolls company ADP said the US private sector added 179,000 new jobs in May, a drop of 36,000 from April and the lowest number in four months.
And the Commerce Department reported that the US trade deficit swelled 6.9 percent to $47.2 billion in April, much bigger than the 2.2 percent increase projected by analysts, which further damaged sentiment
However European and US stocks, which had fallen at the opening of trade, perked up after data showed that activity in the US services sector, the driver of the world's largest economy, surged in May.
The Institute for Supply Management (ISM) said its non-manufacturing purchasing managers index (PMI) rose to 56.3 in May from 55.2 in April, indicating accelerating growth. A number above a 50 reading indicates expansion.
In midday trade, the Dow Jones Industrial Average edged up 0.01 percent to 16,724.60 points.
The broad-based S&P 500 added 0.12 percent to 1,926.60, and the tech-rich Nasdaq Composite Index rose 0.33 percent to 4,247.88.
Asian equities mostly fell after two days of firm gains, as investors took their lead from Wall Street's retreat from record highs on Tuesday.
Hong Kong dropped 0.60 percent, Shanghai shed 0.66 percent and Sydney fell 0.64 percent. Seoul was closed for a public holiday.
But the Tokyo stock market added 0.22 percent, with sentiment supported by the weaker yen which boosts exporters.
- Tesco sales slump -
In European share action, Tesco saw its share price slump 1.3 percent to 293.5 pence after indications that the supermarket group had suffered its largest quarterly drop in domestic sales for four decades.
British sales excluding petrol in stores open at least a year sank 3.7 percent in its first quarter, or the three months to May, from a year earlier. That was the third successive quarterly drop.
Tesco, the world's third-biggest supermarket group, faces competition from German-owned discounters Aldi and Lidl, as well as from traditional supermarket rivals comprising Wal-Mart division Asda, Sainsbury's, William Morrison and Waitrose.
Meanwhile shares in French bank BNP Paribas rose 1.2 percent to 51.5 euros after President Francois Hollande said he planned to raise the issue of a looming US fine reported to be over $10 billion with his US counterpart Barack Obama when they meet later Wednesday.
In Paris, Hollande's office at the Elysee Palace also revealed that he had already written to Obama two months ago in defence of the bank against the "disproportionate" penalties being considered against BNP Paribas for having broke US sanctions against Iran, Sudan and Cuba between 2002 and 2009, and that the two presidents had discussed the matter since.
In foreign exchange deals on Wednesday, the euro slid to $1.3620, down from $1.3627 late in New York on Tuesday.
The European single currency slipped to 81.33 British pence from 81.36 pence.
The British pound weakened to $1.6746 from $1.6750 on Tuesday.
The price of gold rose to $1,245.25 an ounce from $1,242.75 Tuesday on the London Bullion Market.

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 wobble on eve of rate calls Arab Today, arab today european stocks wobble on eve of rate calls

 



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 wobble on eve of rate calls Arab Today, arab today european stocks wobble on eve of rate calls

 



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 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
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 10:16 2017 Friday ,22 September

All eyes on May as she prepares

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