Arab Today, arab today european shares heading for steep
Last Updated : GMT 16:26:55
Arab Today, arab today
Arab Today, arab today

European shares heading for steep

Arab Today, arab today

Arab Today, arab today European shares heading for steep

London - Arabstoday

European shares were heading for their biggest weekly fall in four months yesterday, with miners tracking weaker metals and financials coming under pressure ahead of a bank stress test report expected to show some second-tier lenders have failed. Persistent concerns about debt crises in the Eurozone and the United States prompted investors to stay away from riskier assets, with warnings from credit rating agencies of a possible US downgrade making investors nervous. The Euro STOXX 50 volatility index, one of Europe\'s main barometers of sentiment, rose 6 per cent, indicating a drop in investor desire to buy assets such as equities. The FTSEurofirst 300 index of top European shares was down 0.4 per cent at 1,084.64 at 0841 GMT, after falling 0.9 per cent in the previous session. The index was down 2.7 per cent last week, the sharpest decline since mid-March. Article continues below European insurers fell 1.2 per cent, the Thomson Reuters Peripheral Eurozone Banks index was down 0.6 per cent, while European banks dropped 0.7 per cent. Cocktail of uncertainty \"We have still got a cocktail of uncertainties for investors,\" said Keith Bowman, equity analyst at Hargreaves Lansdown. \"The situation in Europe is still very difficult to forecast. We had another warning over the US credit position and on the top of all that we have got the bank stress test results to come later today.\" The results of the stress test of 90 lenders were expected to show around ten have insufficient capital to withstand a prolonged recession. No large bank was expected to fall short and total capital needed could be under €10 billion (Dh51.8 billion). \"Transparency will be increased and the market will differentiate more between the stronger banks and the ones which are more exposed,\" said Klaus Wiener, chief economist at Generali Investments, which manages €330 billion. European technology shares also suffered a sharp selloff. The sector index fell 1.4 per cent, while Ericsson fell 1.3 per cent on news Sony Ericsson, owned 50-50 by the Swedish company and Japanese group Sony, swung to a second-quarter loss. Analysts said slow progress in US budget talks had been increasing investor anxiety. US President Barack Obama suspended negotiations for the day yesterday to give congressional leaders a chance to come up with a plan of action to unblock talks meant to cut deficits and avert a debt default. Markets were concerned Republicans and Democrats were too far apart to reach a major budget agreement by August 2, when the United States would run out of money unless the cap on government borrowing is raised. \"There is no doubt that they need to get their act together. Even a temporary default will not be advisable,\" Wiener said. \"But there is a fundamental difference between what we see in the United States and what we see in the euro area. In the US, we are talking about a debt ceiling which is self-imposed, whereas in the Eurozone, the problem in some countries is that the capital market is not willing to give them any more money.\" One-in-two chance Standard and Poor\'s said there was a one-in-two chance it would cut the United States\' AAA rating if a deal on raising the debt ceiling was not agreed soon. Moody\'s has also placed the United States on review for downgrade. Investors kept a close eye on the Eurozone debt crisis. The lower house of Italy\'s parliament was expected to give final approval to an austerity plan worth €48 billion which the country is hoping will help soothe market fears it is being sucked in. Euro STOXX 50 falls by 0.7% The Euro STOXX 50, the Eurozone\'s blue-chip index, fell 0.7 per cent to 2,676.11. The index has been underperforming other leading indexes and its latest weakness has taken it through March and June lows of 2,717. Bill McNamara, analyst at Charles Stanley, said a test of the November lows at around 2,635 looked like a realistic possibility. \"Such price action can hardly be described as bullish and the break down through the medium-term uptrend, which took place last month, has been followed by further weakness, confirming that the bull market for the index is over,\" he said.

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 shares heading for steep Arab Today, arab today european shares heading for steep

 



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 shares heading for steep Arab Today, arab today european shares heading for steep

 



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 What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
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 IS caliphate's end 'in sight' after Raqa fall

GMT 14:48 2017 Sunday ,22 October

IS caliphate's end 'in sight' after Raqa fall
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 EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
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 Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

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 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

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