Rate hikes hurt Europes stocks
European stocks fell Thursday after the Bank of England unexpectedly joined the European Central Bank in raising interest rates, causing concern that economic growth will fade.
The concern is that central banks will raise rates more than necessary just when growth is slowing and thus push the economy over the edge, said Greg Bennett, investment director at Marlborough Partners in London.
The Dow Jones Stoxx 600 index slipped 0.8 percent. The Stoxx 50 retreated 0.9 percent. The Euro Stoxx 50, a measure for the nations sharing the euro, lost 0.8 percent. National benchmarks fell in all 18 Western European markets except Denmark, Portugal and Iceland.
The Bank of England raised its main interest rate a quarter of a percentage point, to 4.75 percent, the first increase in two years.
More : chicagotribune.com
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- European investors were staking bets on Friday that the devastating effect of Hurricane Katrina and signs of weakness in the U.S. economy may lead to a pause in U.S. rate rises and limit further tightening.
The dollar sank to three month lows as investors factored in the various risks, with speculation that hikes could be halted short term fuelled by a meeting on Thursday between President George W. Bush and Federal Reserve chief Alan Greenspan.
U.S. bond prices also rose, with the two-year Treasury yield extending its pullback from last month's record high to a two-month low of
Consumer stocks lift South Africa bourse, Angloplat drags
JOHANNESBURG (Reuters) - Consumer focused industrial stocks on the Johannesburg bourse rose on better-than-expected inflation numbers on Wednesday, while Angloplat was dragged lower rand strength, traders said.
"It's been a mixed day on the market with the inflation numbers lifting retailers," Afrifocus Securities dealer Ferdi Heyneke said.
South Africa's main inflation rates braked sharply in the year to November, data showed on Wednesday, reinforcing the view that interest rates could remain unchanged next year.
The targeted CPIX inflation rate rose by an annual rate of 3.7 percent after increasing by 4.4 percent in October and below
Indian workers, particularly with high-tech and clerical jobs, are projected to take home some of the highest pay raises in Asia next year, an international consulting firm said, a development industry experts warned could hurt the country's competitiveness.
The pay of Indian workers across 24 industries will rise an average of 14 precent in 2006, said a preliminary report released Monday by Hewitt Associates, a global human resources consulting firm based in Chicago that surveyed hundreds of companies across Asia, including 573 in India.
Source: news.moneycentral.msn.com
The dollar fell against the yen and euro Monday in Asian trading amid fading expectations for further U.S. interest rate hikes in the near future with damage from Hurricane Katrina clouding the nation's economic prospects.
The dollar was trading at 109.20 yen in Tokyo midafternoon, down 0.36 yen from late Friday, and below the 109.66 yen it bought in New York later that day.]
Source: news.moneycentral.msn.com
Europes doctors grapple with infant viability
Europes trend toward mothering at a more mature age is contributing to a new wave of ethical challenges for doctors in the delivery room.
Medical researchers in Norway, Belgium and other countries say doctors are facing increasingly difficult questions about the limits of post-delivery care for extremely premature babies.
Along with parents, doctors find themselves grappling with questions about how and when to withdraw or withhold care for those newborns whose chances of survival are slim.
More : news.monstersandcritics.com
