Europe Roundup: Equities advance
European stock markets advanced yesterday, with the London FTSE 100 index rising 0.96 per cent to close at 5,930.10 points.
In Paris the CAC 40 rose 0.45 per cent to finish at 5,243.10 while in Frankfurt the DAX added 0.49 per cent to reach 5,989.71 points. The pan-European FTSEurofirst 300 index closed unofficially up 0.5 per cent at 1,395.8 points.
European shares nudged closer to five-year highs yesterday, buoyed by Spanish utilities and retailers as flurry of takeover activity centred on the sector, while mining stocks provided support.
More : btimes.com.my
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Europe Roundup: Markets dip
European stocks had the biggest slide in three weeks after crude-oil prices surged in New York, spurring concern higher fuel costs will be a drag on earnings growth.
Oil is a tax on the consumer, said Frank Hogg, the head of fund management at Bank Hofmann AG in Zurich. His firm cut holdings of equities at the end of July.
The Dow Jones Stoxx 600 Index lost 1.1 per cent to 324.30 here, its steepest drop since July 14 and sliding from its highest since May 16. The Stoxx 50 fell 1.2 per cent while the Euro Stoxx 50,
Europe Roundup: Stocks up
European shares shrugged off their earlier losses to close higher yesterday as a bounce in car and technology stocks helped offset lower mining stocks and worries about slowing global growth.
Among the stream of companies posting earnings, Aviva dropped despite posting a healthy profit jump, while Commerzbank tumbled after a weaker- than-expected performance in its key units.
The FTSEurofirst 300 index of leading European shares closed unofficially up 0.7 per cent at 1,340.1 points, after earlier dipping to a two-week low.
More : btimes.com.my
Europe Roundup: Stocks close weaker
European shares closed lower yesterday, but above intra-day lows as analysts expected little lasting economic impact from news that British police foiled a suspected plot to blow up several aircraft.
The FTSEurofirst 300 index was 0.8 per cent weaker at an unofficial close of 1,330.7, but above an intra-day low of 1,316.3 when it was down nearly two per cent at a two-week low.
The London FTSE 100 index of leading shares shed 0.63 per cent to 5,823.40 points.
In Frankfurt, the Dax gave up 1.26 per cent to 5,630.96 and in Paris the CAC 40 closed 0.97 per
Advance America Halts Military Advances
Payday lender Advance America, Cash Advance Centers Inc. said Monday it will voluntarily refrain from making any payday advances to active, full-time members of the military, effective Oct. 15 except where prohibited by law.
The company said it is taking this step to remove any perceived distraction to members of the military during this critical time for our country.
Congress held a hearing last week to consider a Defense Department request to cap rates charged on loans to American officers in an effort to keep soldiers, sailors and airmen from incurring extensive debt. Some senators called payday
How will Middle East equities perform in 2006?
After three years of stellar performance, Middle East stock market valuations are looking a bit overstretched, and equities have been more volatile in the second-half of 2005. But oil prices are heading higher, so liquidity is not about to become a problem.
By any account 2005 was an amazing year for stock markets in the Middle East. Egypt came top with a 131% gain, while Saudi Arabia and the UAE both delivered more than 100%, Jordan was up 92%, Kuwait 78%, Qatar 70% and Bahrain a relative laggard, up 23%.
The question is really
