European stock markets extend gains

GMT 13:58 2014 Tuesday ,11 November

Arab Today, arab today European stock markets extend gains

London Stock Exchange
London - AFP

Europe's leading stock markets rose Tuesday, with traders reacting to corporate updates and keeping a watch over escalating tensions in eastern Ukraine in the absence of major economic data releases.
London's benchmark FTSE 100 index rose 0.13 percent to stand at 6,619.69 points near midday in the British capital, building on Monday's gains.
Frankfurt's DAX 30 climbed 0.24 percent to 9,373.89 points and in Paris the CAC 40 gained 0.44 percent to 4,241.59 compared with Monday's closing values.
"European shares are trading moderately higher... benefitting from better than expected European corporate earnings," said Markus Huber, senior analyst at broker Peregrine & Black.
"The main risk to the downside appears a further escalation of the situation in eastern Ukraine," he added.
In Tuesday's foreign exchange deals, the single European currency slipped to $1.2405 from $1.2420 late in New York on Monday.
The euro fell to 78.25 British pence from 78.39, while the British pound climbed to $1.5854 from $1.5841 on Monday.
On the London Bullion Market, the price of gold decreased to $1,152.26 an ounce from a $1,162 late on Monday.
Vodafone shares topped the FTSE 100, jumping 5.53 percent to 219.3 pence after the British mobile phone giant hiked its full-year profits forecast despite tumbling profits in the first six months of its financial year, mainly on exceptional charges.
"At first glance the news seems rather mixed for Vodafone -- after all, the firm has just reported a significant fall in first half pre-tax profits," said Daniel Sugarman, market strategist at ETX Capital trading group.
"However, the mobile operating group sounded out a positive note, with an announcement that it intends to roll out its own broadband and TV service, as well as announcing a growth in profit forecast."
Elsewhere, fears were growing Tuesday of a return to all-out fighting in the separatist insurgency in eastern Ukraine.
Five Ukrainian soldiers were killed and nine wounded in fighting between government forces and pro-Russian rebels in the region over the past day, a military spokesman said Tuesday.
Asian stock markets closed mixed Tuesday after US shares tapped fresh records for a fourth straight session overnight, while a weaker yen helped Japan's Nikkei extend its recent rally to hit a seven-year high, dealers said.
Wall Street continued its impressive run Monday after recent data showed US jobs creation was healthy in October and the unemployment rate hit a six-year low.
The figures were the latest indicating the world's top economy is on the path to recovery, with investors now keen to find out when the Federal Reserve plans to increase US interest rates.
European Central Bank president Mario Draghi last week signalled that the ECB was ready to introduce fresh measures such as asset-buying -- or quantitative easing (QE) -- to counter deflation and boost growth in the ailing eurozone.


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بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
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