Arab Today, arab today european stocks euro edge higher
Last Updated : GMT 00:22:03
Arab Today, arab today
Arab Today, arab today

European stocks, euro edge higher

Arab Today, arab today

Arab Today, arab today European stocks, euro edge higher

London - AFP

European stock markets and the euro edged higher on Tuesday, rebounding from sharp losses a day earlier and ahead of a key EU summit on how best to tackle the eurozone debt contagion. Approaching midday in London, the benchmark FTSE 100 index of leading shares rose 0.15 percent to 5,458.87 points. Frankfurt\'s DAX 30 climbed 0.20 percent to 6,144.89 points and in Paris the CAC 40 gained 0.12 percent to 3,025.67. Madrid\'s IBEX 35 index won 0.13 percent to 6,631.90 points. \"After a miserable start to the week, shares were able to shrug off some of the losses from the previous session with some support from German consumer sentiment surprising to the upside,\" said Anita Paluch, a senior trader at Gekko Global Markets. Top eurozone finance ministers meet in Paris on Tuesday in whirlwind efforts to ensure that the summit this week launches the EU towards far greater integration and stops debt contagion fires in Spain. Ambition is high and tension is growing ahead of the summit, with financial markets worried the outcome might again be disappointing in terms of credibility. European Union leaders due in Brussels on Thursday want to give EU authorities more power over eurozone national budgets, and to establish banking supervision across the single market, a top level report said. The 17-nation eurozone is struggling to convince markets it can get to grips with spreading crises. The latest blows were a downgrading of 28 Spanish banks and a call for help from eurozone member Cyprus. In foreign exchange deals on Tuesday, the euro dropped to $1.2504 from $1.2502 late on Monday in New York. \"The markets aren\'t holding out too much hope for a neat resolution to the sovereign debt crisis at this week\'s EU summit,\" said Kathleen Brooks, research director at online trading group Forex.com. \"Euro-dollar has been stuck in a very tight range in the last couple of days, which is a warning sign for traders: the outcome of this summit will be a major break-out event, either one way orthe other for the single currency.\" Spain on Tuesday paid sharply higher borrowing rates in a sale of 3.077 billion euros of short-term sovereign debt, the central bank said, a sign of high tension over its financial sector. The borrowing rate on three-month bills nearly tripled to 2.362 percent from 0.846 percent in the last comparable sale on May 22. The rate on six-month bills rose to 3.237 percent from 1.737 percent on May 22. The high rates attracted strong demand of 8.325 billion euros, the bank said in a statement, and Spain was able to borrow slightly more than the 2.0-3.0 billion euros it had planned. Tension on the financial markets that lend to Spain has soared in recent weeks because of concerns over its banking sector, severely weakened by the collapse of a housing boom in 2008. On Monday, Spain formally requested a rescue loan from a credit line of up to 100 billion euros ($125 billion) offered by its eurozone partners to secure the banks. It did not say publicly how much of this amount it would borrow. Independent consultants last week said Spanish banks could need up to 62 billion euros to survive. After Monday\'s announcement, Moody\'s credit agency hit 28 Spanish banks with new credit downgrades, leaving three-quarters of the industry in junk-bond status. Eurozone member Italy joined Spain on Tuesday in paying investors higher rates of return at a bond auction, reflecting increasing unease over risk of contagion. The government sold a total of 3.9 billion euros ($4.86 billion) worth of bonds, including 2.99 billion euros in zero coupon notes due to mature in 2014 at a yield of 4.712 percent compared with 4.037 percent on May 28.

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 euro edge higher Arab Today, arab today european stocks euro edge higher

 



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 euro edge higher Arab Today, arab today european stocks euro edge higher

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
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 Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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