Arab Today, arab today world stocks firm on eu summit chinese data
Last Updated : GMT 04:32:24
Arab Today, arab today
Arab Today, arab today

World stocks firm on EU summit, Chinese data

Arab Today, arab today

Arab Today, arab today World stocks firm on EU summit, Chinese data

London - AFP

Global stock markets were firmer on Monday, picking up on apparent progress at a weekend EU summit on the eurozone debt crisis and welcoming positive Chinese growth data. They said miners and resources got a boost from Chinese manufacturing figures showing a return to growth and easing concerns that the world\'s second largest economy faced a possible hard landing. Asian markets were up sharply, with Hong Kong gaining more than four percent, after weekend meetings of European leaders made good progress on tackling a debt crisis that threatens to plunge the world back into recession. Dealers said the markets, however, will want to see that progress turned into a definitive and binding agreement at a second EU and eurozone summit on Wednesday if the gains are to be sustained. News that eurozone private sector activity slid further in October also dampened European sentiment. In London, the FTSE 100 index leading shares was up 0.55 percent at around 1400 GMT, the Frankfurt DAX rose 0.31 percent and in Paris the CAC 40 added 0.71 percent. Other European markets posted similar modest gains but Athens briefly plunged more than 5.0 percent, led down by the banking sector after the EU summit signalled that private investors will take a heavier hit on Greek debt. Milan was down 0.78 percent as Italian Prime Minister Silvio Berlusconi called an emergency cabinet meeting to review new austerity measures after EU leaders pressed him to fulfill pledges to cut Italy\'s huge debt. The euro soared to $1.3954, hitting the highest level since September 8, but then pulled back to $1.3857, down from $1.3894 late Friday. In New York, stocks got off to a positive start on the EU and Chinese leads plus better-than-expected earnings from Caterpillar. The Dow Jones Industrial Average rose 0.27 percent while the tech-heavy Nasdaq Composite added 0.45 percent. \"European Union leaders vowed to unveil a detailed financial plan for the debt-strapped region on Wednesday, following a second summit. On the home front, meanwhile, the latest quarterly results from Caterpillar are bolstering the blue chips,\" said Andrea Kramer at Schaeffer\'s Investment Research. \"The weekend EU summit has clearly not solved the crisis,\" said Rabobank analyst Jane Foley. \"However, bearing in mind the slow progress at which European politics tends to operate, there was a reasonable flow of news and sufficient progress for investors.\" European leaders, including French President Nicolas Sarkozy and IMF chief Christine Lagarde, on Sunday said \"good progress\" had been made in talks on the debt crisis that has threatened the world economy. They announced few details ahead of the second summit on Wednesday. The eurozone wants to beef up its 440-billion-euro ($610 billion) rescue fund, the European Financial Stability Facility, to convince markets it has the means to protect highly indebted nations such as Italy and Greece. \"Investors are awaiting the next EU summit on Wednesday, which should produce final decisions on the three-prong strategy to deal with the eurozone crisis involving measures to recapitalize European banks, leverage the EFSF and provide greater debt relief for Greece,\" said Citi analyst Valentin Marinov. \"The meetings over the weekend provided more clarity about what to expect,\" he added. Asian markets posted strong gains after data showed Chinese manufacturing activity at a five-month high in October, lifted by a pick-up in output and orders despite the global economic turmoil. The preliminary HSBC purchasing managers\' index (PMI) stood at 51.1 in October, up from 49.9 in September, boosting hopes that the world\'s second-largest economy can avoid a hard landing. A reading above 50 indicates the sector is expanding, while a reading below 50 suggests a contraction. Tokyo jumped 1.90 percent, Hong Kong soared 4.14 percent and Shanghai added 2.29 percent. Sydney rallied 2.73 percent.  

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 world stocks firm on eu summit chinese data Arab Today, arab today world stocks firm on eu summit chinese data

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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