Arab Today, arab today indian stocks pare gain on eurozone concern
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

Indian stocks pare gain on Eurozone concern

Arab Today, arab today

Arab Today, arab today Indian stocks pare gain on Eurozone concern

Mumbai - Arabstoday

Indian stocks dropped for a second day on concern that the debt crisis in Europe, the nation\'s biggest trading partner, is worsening. Reliance Industries, the nation\'s biggest company, slumped 2.3 per cent. Stocks in Europe and Asia declined after UniCredit, Italy\'s largest bank, said on Wednesday it will sell new shares in a €7.5 billion (Dh35.81 billion) offer to strengthen its capital position and Prime Minister Lucas Papademos said Greece is at risk of a \"disorderly default\". Australia\'s services industry shrank and the euro weakened ahead of France\'s plans to sell as much as €8 billion of debt yesterday. The BSE India Sensitive Index, or Sensex, fell 25.56, or 0.2 per cent, to 15,857.08 at the close in Mumbai, paring its advance this week to 2.6 per cent. The measure gained as much as 0.6 per cent on Wednesday. Europe\'s debt crisis \"is a 10-year problem. It\'s not a two-quarter problem\", Philip Poole, head of investment strategy at HSBC Global Asset Management, said on Bloomberg Television in Hong Kong. \"We still don\'t see fully the route to a solution. There\'s still more work to be done, it\'s going to take time, and in the interim it\'s going to be an overhang to the market.\" The Sensex slumped 25 per cent last year on concern a weak rupee and a record interest-rate increases will exacerbate the effects of Europe\'s debt crisis on company earnings. The rupee dropped the most among major Asian currencies in 2011. UniCredit led European banks lower amid concern that more lenders will be forced to raise capital. The lender, which announced a rights offer at a 43 per cent discount on Wednesday, plunged to a 19-year low. The Stoxx Europe 600 Index fell 0.7 per cent and the MSCI Asia Pacific Index lost 0.8 per cent. Collapse In Greece, Papademos said that deeper cuts in incomes are the only way for the country to stay in the euro area and get more financing from international creditors. These steps are necessary to avert an economic collapse that may otherwise come as soon as March, he said. While as many as 17 of 30 Sensex companies retreated, the S&P CNX Nifty Index on the National Stock Exchange of India was little changed at 4,749.95. The BSE-200 Index was unchanged at 1901.91.

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 indian stocks pare gain on eurozone concern Arab Today, arab today indian stocks pare gain on eurozone concern

 



Arab Today, arab today

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 indian stocks pare gain on eurozone concern Arab Today, arab today indian stocks pare gain on eurozone concern

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
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