European stocks mainly firm on fresh Greece action

Europe's main stock markets mostly rose on Friday after the German parliament approved the latest instalment of aid for Greece, helping to offset persistent concerns over the US "fiscal cliff."

In afternoon deals, London's benchmark FTSE 100 index added 0.34 percent to 5,890.34 points, Frankfurt's DAX 30 won 0.35 percent to 7,427.18 points and the Paris CAC 40 climbed 0.38 percent to 3,582.39 points.

On the downside, Madrid's Ibex 35 index fell 0.25 percent to 7,953.40 points with shares in bailed-out Bankia plunging by 20 percent amid concerns over its restructuring.

The European single currency rallied to a one-week high at $1.3028, boosted by the German approval, before pulling back to $1.2985, up from $1.2978 late in New York on Thursday.

Gold prices firmed to $1,728.25 per ounce on the London Bullion Market, compared with $1,725 on Thursday.

"Germany's Bundestag approved Greece's latest rescue deal with a majority, bolstering the tone somewhat by mid-day trade in Europe," said Ishaq Siddiqi, analyst at ETX Capital trading group.

"That said, persisting worries about the fiscal cliff in the US pressures a sensitive market. Progress or the lack of, over US lawmakers reaching a deal dominate headlines and keeps the bulls and the bears fighting for control over direction."

Germany's parliament on Friday overwhelmingly approved billions of euros in international aid for Greece, handing a much-needed financial boost to Athens as it battles against bankruptcy.

Deputies voted by 473 to 100 to give the green light to the release of 43.7 billion euros ($56.9 billion) in aid to debt-wracked Greece agreed after torturous talks between eurozone finance ministers. There were 11 abstentions.

In company news, shares in Metro gained 0.50 percent to 21.70 euros after the German retailer agreed to sell the eastern European operations of its Real supermarket unit to French rival Auchan for 1.1 billion euros ($1.4 billion).

Metro said in a statement it had signed an agreement with the French retailer to "take over the operational activities and real estate assets of Real in Poland, Romania, Russia and Ukraine."

The deal covers 91 hypermarkets in the four countries, where Real generated sales of 2.6 billion euros in 2011 and employs a workforce of 20,000.

In London, Royal Bank of Scotland shares slid 0.17 percent to 298.50 pence after the state-rescued lender announced that the sale of its Indian retail and commercial activities to HSBC had lapsed.

RBS, which is 81 percent owned by the taxpayer after a vast bailout, added that it would seek to wind down the Indian operations.

Asian markets mostly climbed on Thursday data showing the US economy grew more than first expected in the third quarter.

Tokyo closed 0.48 percent higher, Sydney ended up 0.63 percent, but Seoul finished 0.10 percent lower.

Hong Kong closed 0.49 percent higher while Shanghai was up 0.85 percent.

In the United States, investors were increasingly nervous about the approaching fiscal cliff of spending cuts and tax rises, which will be triggered on January 1 unless a cross-party deal is brokered.

"With a month to go before the United States is due to topple over the fiscal cliff -- $650 billion of spending cuts and tax hikes promising a return to recession -- the onus is on the politicians to move the debate on and come up with a deal," said ING bank economist James Knightley.

"We continue to hear warm words, but there is still a sense that both sides are refusing to budge on several issues. Consequently, we expect this to go to the wire."

US stocks shrugged off a second day of market gains around the world, trading mixed in early deals amid signs that fiscal cliff negotiations are going nowhere.

Twenty minutes into trade, the Dow Jones Industrial Average was up a bare 0.02 percent at 13,024.27 points.

The S&P 500 slipped 0.09 percent to 1,414.65 points, while the Nasdaq Composite lost 0.14 percent at 3,007.87.

burs-rl/arp

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Deutsche CEO tries to reassure staff as shares plunge
    Deutsche CEO tries to reassure staff as shares plunge Reuters - 16 minutes ago

    FRANKFURT/LONDON (Reuters) - Deutsche Bank's (DBKGn.DE) chief executive sought to reassure his staff on Friday that Germany's largest lender remained robust after its shares again fell to record lows, sending tremors through global financial … More »

  • First Thai babies diagnosed with Zika-linked microcephaly
    First Thai babies diagnosed with Zika-linked microcephaly AFP News - 18 minutes ago

    Thai health authorities on Friday said microcephaly in two babies was caused by the Zika virus, in what is believed to be Southeast Asia's first confirmed cases linking the sickness and the birth defect. The announcement could affect Thailand's key … More »

  • Minimum EPF savings for 55-year-old set to RM228k New Straits Times - 18 minutes ago

    KUALA LUMPUR: The Employees Provident Fund (EPF) has announced that the quantum for the basic savings will be revised from RM196,800 to RM228,000 effective Jan 1, 2017. The amount will be set as the minimum target EPF savings members should have … More »

  • UK funds dump stocks for bonds, emerging markets - Reuters poll
    UK funds dump stocks for bonds, emerging markets - Reuters poll Reuters - 25 minutes ago

    LONDON (Reuters_ - British funds have slashed equity holdings in their portfolios, allocating more capital to bonds and to buoyant emerging markets as they fret about the risks posed by Europe's banks and U.S. elections. The Reuters monthly survey … More »

  • Global funds add to Japan, euro zone bonds, see no further sell offs - Reuters poll
    Global funds add to Japan, euro zone bonds, see no further sell offs - Reuters poll Reuters - 32 minutes ago

    Global investors raised holdings of Japanese bonds to four-year highs in September and bought more euro zone debt, shrugging off a mid-month market sell-off and expressing faith in central banks' commitment to their asset-buying programmes. The … More »

  • Renault signs deal for venture in Iran as its economy opens
    Renault signs deal for venture in Iran as its economy opens Associated Press - 38 minutes ago

    Renault has reached a deal with Iran's government to open a plant making at least 150,000 vehicles a year, as European companies race for a share of Iran's market now that international sanctions have ... … More »

  • HeidelbergCement relaxed about Brexit, had good August in UK
    HeidelbergCement relaxed about Brexit, had good August in UK Reuters - 40 minutes ago

    Germany's HeidelbergCement (HEIG.DE) is seeing strong business in the UK and is more worried about the economic effects if Donald Trump wins the U.S. presidential election than it is about Brexit, its chief executive said on Friday. Britain is the … More »

  • Eurozone inflation doubles as low oil price impact fades
    Eurozone inflation doubles as low oil price impact fades Associated Press - 57 minutes ago

    Inflation in the 19-country eurozone doubled in September to near two-year highs as the impact of lower oil prices began to fade, official figures showed Friday, in a development that's likely to ease ... … More »

  • Revealed: Ex-MaGIC CEO Cheryl Yeoh’s new designation
    Revealed: Ex-MaGIC CEO Cheryl Yeoh’s new designation e27 - 58 minutes ago

    Since leaving MaGIC in December 2015, the public has been anticipating the founding CEO’s next adventure Former MaGIC founding CEO Cheryl Yeoh has been announced as the new director of Flexiroam, a telco company that enables customers to bypass … More »

  • Some relief for big-spending ECB as euro zone inflation ticks up
    Some relief for big-spending ECB as euro zone inflation ticks up Reuters - 59 minutes ago

    BRUSSELS/FRANKFURT (Reuters) - Inflation in the euro zone ticked up in September, data showed on Friday, giving the European Central Bank some confidence its stimulus programme is pulling the bloc's economy away from the deflationary brink. … More »

  • Sainsbury's names Simon Roberts as retail & operations director Reuters - 1 hour 1 minute ago

    Sainsbury's (SBRY.L), Britain's No. 2 supermarket chain, on Friday named Simon Roberts as its new retail and operations director but may have to wait until July 2017 before he can start. Roberts was most recently executive vice president of … More »

  • YTL acquires three new luxury properties in the UK Business Times - 1 hour 7 minutes ago

    KUALA LUMPUR: YTL Hotels is expanding its luxury portfolio with the recent acquisition of three properties in Edinburgh, Berkshire and London, strengthening the company’s presence within the United Kingdom. The company’s current portfolio in the … More »

  • Japan's Mitsubishi Motors to resume sales after latest cheating scandal
    Japan's Mitsubishi Motors to resume sales after latest cheating scandal Reuters - 1 hour 7 minutes ago

    Japanese automaker Mitsubishi Motors Corp (7211.T) will resume domestic sales of eight vehicle models on Oct. 1, the company said on Friday, after correcting overstated mileage readings in its second cheating scandal this year. Japan's sixth … More »

  • Gold gains as stocks slide on Deutsche Bank worries
    Gold gains as stocks slide on Deutsche Bank worries Reuters - 1 hour 8 minutes ago

    Spot gold was up 0.48 percent to $1,326.41 an ounce by 1005 GMT. Gold has gained one percent so far this month, partly because of the weaker dollar after the U.S. Federal Reserve chose not to raise interest rates. U.S. gold futures were up 0.29 … More »

  • Oil falls as investors cash in on OPEC deal rally, dollar rises
    Oil falls as investors cash in on OPEC deal rally, dollar rises Reuters - 1 hour 9 minutes ago

    Oil prices fell on Friday on a stronger dollar and as investors cashed in on a 6-percent rise in just one day after OPEC members agreed to reduce output for the first time in eight years to stifle a two-year price slide. Global benchmark Brent … More »

  • Renault to enter new joint venture in Iran Reuters - 1 hour 19 minutes ago

    Renault (RENA.PA) said on Friday it had signed a deal to enter into a new joint venture in Iran that would allow it to strengthen its presence in the country after most trade sanctions were lifted earlier this year. In a statement, Renault said it … More »

  • Stock markets tumble on Deutsche Bank strains
    Stock markets tumble on Deutsche Bank strains AFP News - 1 hour 23 minutes ago

    European and Asian stock markets slumped Friday as Deutsche Bank shares plunged on widening concerns over its financial strength, causing ripples of fear across the global financial sector. Bloomberg reported that several hedge funds had withdrawn … More »

  • SE Asia Stocks-Down; Indonesia falls on cigarette tax hike concerns Reuters - 1 hour 28 minutes ago

    By Anusha Ravindranath Sept 30 (Reuters) - Southeast Asian stocks ended lower on Friday with Indonesia posting its biggest intraday percentage loss in over two weeks as the announcement of a tax hike on ... … More »

  • Seven & I Slashes Forecast on Department Store Writedowns (2) Bloomberg - 1 hour 33 minutes ago

    Net income will be 80 billion yen ($793 million) for the fiscal year ending February 28, 2017, about 53 percent less than the 172 billion yen forecast it issued on Aug. 2, Japan’s largest retailer by market value said Friday in a statement. The … More »

  • Airbus Group to merge with planemaking unit
    Airbus Group to merge with planemaking unit Reuters - 1 hour 43 minutes ago

    Airbus Group (AIR.PA) said on Friday it would merge with its planemaking unit, strip out bureaucracy and simplify its brand, marking a break with its complex corporate roots as it prepares for tougher expected competition. Europe's largest … More »

  • RBC cutting 15 investment banking jobs in London - sources
    RBC cutting 15 investment banking jobs in London - sources Reuters - 1 hour 51 minutes ago

    LONDON/TORONTO (Reuters) - Royal Bank of Canada (RBC) is cutting 15 investment banking jobs in London amid a slowdown in activity in the region, sources familiar with the matter told Reuters. RBC Capital Markets, the investment banking arm of RBC … More »

  • BRIEF-Lion Forest Industries enters into a conditional share sale agreement Reuters - 1 hour 52 minutes ago

    Sept 30 (Reuters) - Lion Forest Industries Bhd * Entered into a conditional share sale agreement to acquire from tan sri cheng heng jem about 5.18% of the voting shares in parkson holdings * Deal for total ... … More »

  • EU regulators open to Italy request for more time to sell banks Reuters - 1 hour 54 minutes ago

    Italy has asked for more time to sell four small savings banks it bailed out last year, the European Commission said on Friday, saying it was open to the request. "The Commission is in close and constructive contacts with the Italian authorities … More »

  • UK's IG Group to buy DailyFX from FXCM Inc for $40 million Reuters - 2 hours 6 minutes ago

    IG Group said the deal, which is expected to close by the end of October, would add about 5 million pounds ($6 million) to ongoing operating costs annually and add to earnings from IG's 2018 financial year. IG Group, which has over 152,600 active … More »

  • BRIEF-Boustead holdings bhd proposed disposal of lands by Boustead Petroleum Marketing Sdn Bhd Reuters - 2 hours 14 minutes ago

    Sept 30 (Reuters) - Boustead Holdings Bhd * Boustead petroleum marketing intends to undertake the proposed disposal of two pieces of adjacent lands for compensation of 16.7 million rgt * Proposed disposal ... … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.152-0.008-5.00%
    N21.SI
    0.12+0.01+12.15%
    40F.SI
    0.115+0.003+2.68%
    40E.SI
    0.113+0.007+6.60%
    43E.SI
    3.97-0.05-1.24%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.186+0.025+15.53%
    AWS.SI
    0.12+0.01+12.15%
    40F.SI
    0.164+0.016+10.81%
    40N.SI
    1.35+0.11+8.43%
    U19.SI
    0.475+0.035+7.95%
    NC2.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.36-0.24-40.00%
    AWG.SI
    0.20-0.06-23.08%
    AWI.SI
    0.27-0.03-11.48%
    BQO.SI
    0.30-0.03-9.09%
    5VP.SI
    0.265-0.025-8.62%
    BKA.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.36400.000.00%
    USDSGD=X
    1.5237-0.0063-0.41%
    EURSGD=X
    1.7673-0.0008-0.05%
    GBPSGD=X
    74.1840+0.113+0.15%
    SGDJPY=X
    5.6834-0.0006-0.01%
    SGDHKD=X
    3.0308+0.0079+0.26%
    SGDMYR=X
    9,568.2803+25.5674+0.27%
    SGDIDR=X
    4.8918+0.0048+0.10%
    SGDCNY=X
    1.0395-0.0014-0.13%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,328.70+2.70+0.20%
    GCZ16.CMX
    19.38+0.19+1.00%
    SIZ16.CMX
    95.01-0.66-0.69%
    ^XAU
    2.20+0.01+0.32%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.12-0.01
    ^FVX
    1.56-0.01
    ^TNX
    2.28-0.01
    ^TYX