Last Updated : GMT 05:52:34
Arab Today, arab today
Arab Today, arab today

European equities rebound, step back from geopolitics

Arab Today, arab today

Arab Today, arab today European equities rebound, step back from geopolitics

Europe's main stock markets
London - AFP

Europe's main stock markets rebounded Wednesday, taking a step back from geopolitical tensions to refocus on economic and corporate news.

The region's equities had fallen Tuesday with airlines and hotel groups hit by a US travel warning and the downing of a Russian fighter jet by Turkey.

While Asian markets retreated, mirroring a sell-off in tourism-linked firms in the United States overnight, the sector helped to lift European bourses, Thomas Cook (Xetra: A0MR3W - news) notably advancing 11.4 percent on its first annual net profit for five years, more than overturning 7 percent losses over two previous sessions.

Russo-Turkish tensions in the wake of the jet downing sent oil prices up on concern about supplies in the crude-rich Middle East region but failed to make a fresh dent in European equities.

"European equities are positive," said Accendo Markets analyst Mike van Dulken.

At the close, London's benchmark FTSE 100 index had risen 1.0 percent, as a British government budget update announced fresh public spending cuts while shelving a plan to cut welfare payments for the poorest and sparing the police from savings after the Paris attacks

In the eurozone, Frankfurt's DAX 30 closed up 2.2 percent with Volkswagen (Other OTC: VLKAF - news) and Allianz leading the gainers -- both adding almost 4 percent, while the Paris CAC 40 index was also up 1.4 percent compared with Tuesday's close, while Milan gained 1.1 percent.

- Short-lived tension -

European markets rose "after the escalation of tensions between Russia and Turkey proved short-lived", noted Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.

In foreign exchange activity, the euro nudged down to $1.0582 as Capital Economics speculated that "the prospect of a historically large divergence between US and euro-zone monetary policy looks set to push the euro below parity versus the US dollar for the first time since late 2002."

Earlier Wednesday, Turkish President Recep Tayyip Erdogan sought to play down tensions with Russia after Turkey's downing of the Russian plane sparked fears among NATO allies of a wider conflict.

Despite those concerns, traders took heart from a Standard (Other OTC: SNDH - news) and Poor's report which found "the latest indicators show that stronger domestic demand is overcoming soft exports, which suggests that the eurozone upturn continues to forge ahead."

The ratings agency added that consumers in the eurozone had provided "a welcome boost" to growth, especially in Germany, while detecting that shoppers were starting to spend more elsewhere, too.

- Delight for homebuilders -

British homebuilders headed FTSE 100 risers.

The sector won a major boost as finance minister George Osborne prepared to unveil a scheme to build 400,000 new homes deemed by the government to be affordable.

Ahead of the update, homebuilders Taylor Wimpey (LSE: TW.L - news) and Persimmon (Other OTC: PSMMY - news) surged by more than six percent in value before settling at mid-afternoon rises of around 3.4 percent.

US stocks were ahead, just barely, on mixed jobless and spending data in the last trading session ahead of the Thanksgiving holiday.

- Key figures at European close-

London - FTSE 100: UP 1.0 percent at 6,337.6 points

Frankfurt - DAX 30: UP 2.2 percent at 11,169.54

Paris - CAC 40: UP 1.5 percent at 4,893.0

EURO STOXX 50: UP 1.5 percent at 3,461.8

Tokyo - Nikkei 225: DOWN 0.4 percent at 19,847.58 (close)

Euro/dollar: DOWN to $1.0611 from $1.0642 in late US trade on Tuesday

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 rebound step back from geopolitics Arab Today, arab today european equities rebound step back from geopolitics


Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today At Milaidhoo Island, Maldives

GMT 08:42 2016 Wednesday ,07 December

At Milaidhoo Island, Maldives
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today Probe finds coalition 'mistake'

GMT 08:00 2016 Wednesday ,07 December

Probe finds coalition 'mistake'
Arab Today, arab today 'Rookie' Trump must fall into line

GMT 08:02 2016 Tuesday ,06 December

'Rookie' Trump must fall into line

GMT 23:19 2016 Wednesday ,07 December

US Stocks End High on Tuesday

GMT 21:42 2016 Wednesday ,07 December

Chinese Yuan Weakens to 6.8808 against USD Wednesday

GMT 18:07 2016 Wednesday ,07 December

Tadawul closes at 1-year high to a fresh one-year

GMT 15:57 2016 Wednesday ,07 December

Sterling hits 2-month high against dollar

GMT 09:57 2016 Wednesday ,07 December

US dollar rises against other major currencies

GMT 08:15 2016 Wednesday ,07 December

Foreign exchange rates in India

GMT 22:49 2016 Tuesday ,06 December

US Stocks Close Higher

GMT 22:33 2016 Tuesday ,06 December

Chinese Yuan Strengthens to 6.8575 Against USD Tuesday
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today The summer school raising aspirations

GMT 12:49 2016 Tuesday ,06 December

The summer school raising aspirations
Arab Today, arab today Vanessa Redgrave makes directing

GMT 10:52 2016 Tuesday ,06 December

Vanessa Redgrave makes directing
Arab Today, arab today Indonesia expands protection

GMT 11:39 2016 Tuesday ,06 December

Indonesia expands protection
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today It's a squeeze, but Paris Impressionist

GMT 12:06 2016 Saturday ,03 December

It's a squeeze, but Paris Impressionist
Arab Today, arab today To battle Japanese whaling fleet

GMT 11:53 2016 Monday ,05 December

To battle Japanese whaling fleet

GMT 12:58 2016 Friday ,02 December

Trump, politics on the mind

GMT 13:00 2016 Monday ,05 December

Dubai Women Establishment delegation

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 13:01 2016 Thursday ,01 December

Green groups pressure Spain

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:17 2016 Friday ,25 November

Ajman Tourism launches time capsule

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
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

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday