Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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European stocks flat as investors track Brexit, coronavirus concerns;
Published in Amwal Al Ghad on 03 - 02 - 2020

The pan-European Stoxx 600 hovered around the flatline in early trade, with basic resources shedding 1.1% to lead losses while travel and leisure stocks climbed 0.5%.
Monday is the first trading day since Brexit took place. The U.K. exited the EU at 11 p.m. on Friday and has now started an 11-month transition period in which it hopes to strike a trade deal with the bloc.
Negotiations are expected to be turbulent after the U.K.'s foreign minister said over the weekend that the U.K. would "not be aligning with EU rules" in any post-Brexit trade deal. Irish Prime Minister Leo Varadkar warned both sides not to set up rigid "red lines" ahead of talks.
Meanwhile, in Asia, stocks in mainland China plummeted more than 7% by Monday afternoon as they returned to trade following an extended holiday amid the ongoing coronavirus outbreak. The death toll from the virus has now reached 361 people.
The People's Bank of China announced Sunday that it will inject 1.2 trillion yuan (approx. $173 billion) worth of liquidity into the markets via open market reverse repo operations.
Several euro zone countries release manufacturing purchasing managers' index (PMI) data on Monday morning.
Julius Baer shares fell 4.7% in early trade after the Swiss private bank reported a 5% adjusted net profit drop in 2019 and announced plans to improve its cost-income ratio by 2022.
Worldline shares dropped 6.4% to the bottom of the Stoxx 600 after it announced the acquisition of fellow French transaction technology company Ingenico. Ingenico shares jumped 8.9% to lead the European benchmark.
Ryanair announced a beat on third-quarter revenue expectations on Monday morning and raised its profit guidance, leading the budget carrier's stock 4.4% higher.


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