Arab Today, arab today european equities drop on poor us data
Last Updated : GMT 10:10:31
Arab Today, arab today
Arab Today, arab today

European equities drop on poor US data

Arab Today, arab today

Arab Today, arab today European equities drop on poor US data

Washington - Arabstoday

Europe’s main stock markets fell sharply yesterday on news that US manufacturing declined for the third straight month and as investors weighed prospects of new bond-buying by the European Central Bank. At close, London’s FTSE 100 index of top companies was 1.50% lower at 5,585.61 points, Frankfurt’s DAX 30 lost 1.17% to 6,932.58 points, and in Paris the CAC 40 fell by 1.58% to 3,399.04 points. Shares in debt crisis flashpoints, which had risen all day lifted by recent comments from ECB president Mario Draghi, pared gains by close with Madrid stocks up 0.73% and Milan down 0.29%. Borrowing prices for Spain and Italy meanwhile fell sharply with investors increasingly expectant the ECB will decide to come to the aid of the eurozone’s most fragile members at a policy meeting on Thursday. On the secondary markets the rate of return on Spain’s benchmark 10-year debt fell to 6.570% from 6.853% late on Monday, while Italian benchmark yields fell to 5.669% from 5.771%. In foreign exchange deals, the euro fell to $1.2562, compared with $1.2593 late in New York on Monday. US stocks, which had opened flat as investors returned from a three-day weekend, nosedived after the announcement of poor manufacturing data for August. “The details of the manufacturing survey are worrying,” said Alexandre Estiot of BNP Paribas. The Institute for Supply Management said its PMI index of US manufacturing stood at 49.6% in August, falling from 49.8 the prior month. A reading below the 50 line suggests the sector is contracting. At around 1600 GMT, the Dow Jones Industrial Average was down 0.72%, the broad-based S&P 500 was off 0.49% and the tech-rich Nasdaq fell 0.63%. Europe’s main markets had risen across the board on Monday on hopes over the outcome of the ECB’s latest monetary policy meeting that concludes tomorrow. In Brussels on Monday, Draghi defended controversial measures taken to tame the eurozone debt crisis, including buying up government bonds, European MPs said. MEPs said Draghi told them that the central bank had a responsibility to intervene when necessary. Draghi, who made no public comment, said that buying government bonds of up to 3-year maturities on the secondary market did not amount to bailing out spendthrift euro members—a charge levelled by many German politicians. ECB bond buying in the past was justified, he said according to MEPs who spoke after his briefing, to help stabilise and protect the 17-nation eurozone. “In order to help the struggling eurozone economies with their costs of debt, Draghi mentioned buying bonds up to three-year maturities,” said Anita Paluch, Gekko Global Markets analyst. “This has been reflected in the Spanish and Italian short term bonds, falling to multi-months lows.” But investor sentiment took a knock after Moody’s downgraded the outlook on the European Union’s long-term AAA credit rating from stable to negative. From gulf times.

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 equities drop on poor us data Arab Today, arab today european equities drop on poor us data

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
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 UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
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 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
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 Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

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

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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