Egypt achieves record primary budget surplus of EGP 629bn despite sharp fall in Suez Canal revenues    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    After Putin summit, Trump says peace deal is best way to end Ukraine war    Jordan condemns Israeli PM remarks on 'Greater Israel'    Egypt's Supreme Energy Council reviews power supply plans for 14 industrial projects    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egyptian pound closes high vs. USD on Tuesday – CBE    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    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    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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Europe Stock-Index Futures Rise on China Production Data
Published in Amwal Al Ghad on 11 - 11 - 2013

European stock-index futures advanced, indicating equities may snap two days of losses, as China's industrial output growth unexpectedly accelerated. U.S. index futures and Asian shares were little changed.
Novartis AG (NOVN) may move after agreeing to sell a unit to Grifols SA for $1.68 billion. A gauge of automakers may be active as a report showed China's passenger-vehicle sales last month surpassed analysts' estimates. RSA Insurance Group Plc may be active after suspending three top executives at its Irish unit and saying 2013 results will miss analysts' forecasts.
Futures on the Euro Stoxx 50 Index expiring in December climbed 0.3 percent to 3,038 at 7:04 a.m. in London. The Stoxx Europe 600 Index has risen for five straight weeks as the European Central Bank unexpectedly lowered its key interest rate and the Federal Reserve maintained bond purchases. Contracts on the U.K.'s FTSE 100 Index added 0.5 percent today. Standard & Poor's 500 Index futures lost less than 0.1 percent, while the MSCI Asia Pacific Index rose 0.2 percent.
In China, industrial production jumped 10.3 percent in October from a year earlier, the National Bureau of Statistics said Nov. 9. That was higher than September's 10.2 percent and exceeded the 10 percent median projection of economists surveyed by Bloomberg. Inflation was a less-than-forecast 3.2 percent and producer prices fell 1.5 percent.
President Xi Jinping and top Communist Party leaders have gathered in Beijing for a meeting known as the third plenum to outline a blueprint to sustain growth and drive urbanization in the world's second-biggest economy. The meeting of about 370 officials will conclude tomorrow.
Confidence Vote
In Greece, Prime Minister Antonis Samaras survived a vote of no confidence brought by the main opposition party as his government remained locked in talks with the country's creditors. Greece's 300-seat parliament rejected the measure with 153 votes against and 124 votes for. The Pasok party, part of Samaras's coalition, expelled a lawmaker who voted for the motion, reducing the party's caucus to 27 seats.
Novartis may be active after the drugmaker said it is selling its blood-transfusion diagnostics unit to Grifols for $1.68 billion. The deal will be completed in the first half of 2014, according to a statement.
Automakers in the Stoxx 600 may be active. Wholesale deliveries of cars, multipurpose and sport utility vehicles in China rose to 1.61 million units last month, according to the state-backed China Association of Automobile Manufacturers. That exceeded the median estimate of 1.5 million units by three analysts surveyed by Bloomberg News.
RSA may be active after the U.K.'s biggest non-life insurer by market value said late Nov. 8 that it suspended three top executives at its Irish unit amid a probe into finance and claims functions.
"As a result of these issues, RSA estimates that its 2013 operating result will be 70 million pounds lower than current market expectations," the company said in a statement.
Shire Plc may move after the drugmaker agreed to buy ViroPharma Inc. for about $4.2 billion in cash.
Source: Bloomberg


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