African trade ministers meet in Cairo to push forward with AfCFTA    Scatec's $3.6bn renewables portfolio part of Egypt's NWFE energy pillar    Egypt's stocks end lower on Sept 16    Egypt launches international architecture academy with UNESCO, European partners    Egypt's President, Pakistan's PM condemn Israeli attack on Qatar    Egypt's PM, Russian deputy PM discuss industrial zone, Dabaa nuclear plant    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Sisi tells global leaders at Macron's video conference: Israel crossed all red lines    Egypt to begin second phase of universal health insurance in Minya    Madrid trade talks focus on TikTok as US and China seek agreement    Power of Proximity: How Egyptian University Students Fall in Love with Their Schools Via Social Media Influencers    Egypt wins Aga Khan Award for Architecture for Esna revival project    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    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    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Europe Mostly Higher As Auto, Oil Shares Gain
Amwal Al Ghad Published in Amwal Al Ghad on 21 - 05 - 2012

European stock markets attempted to push higher on Monday, with auto and oil shares providing support, as the market looked for a foothold after a lack of big developments from the weekend Group of Eight meeting.
The Stoxx Europe 600 index (XX:SXXP) +0.61% rose 0.4% to 239.85, following a 5.2% drop last week, which was its worst week since last September.
Over the weekend, global leaders affirmed their interest in keeping Greece in the euro zone, and encouraged leaders to pursue growth policies, but no new measures were announced Investors will now look to an informal European Union summit on Wednesday.
Spanish shares came under some pressure, after the government late Friday revised up its budget deficit to 8.9% from 8.5% for 2011, owing to higher debt reported by four regional governments.
The Spain IBEX 35 index (XX:IBEX) +0.49% fell 0.3% to 6,547.10, led by a 1.4% drop for Banco Santander (SAES:SAN) -0.50% STD +3.60% and a 1.5% fall for BBVA SA (ES:BBVA) -1.05% BBVA +4.86%
Yields on 10-year government bonds for Spain (ES:10YR_ESP) +0.39% rose 5 basis points to 6.32% and those for Italy (IT:10YR_ITA) +0.51% were up 2 basis points to 5.96%.
The FTSE MIB Italy index XX:FTSEMIB -0.12% fell 0.3% to 13,008.49.
Shares of Renault SA (FR:RNO) +5.30% shot up 5.5%. Analysts at UBS added Renault to the key call list. Fellow automaker Peugeot SA (FR:UG) +3.79% rose 5.6%. Those gains helped lift the French CAC 40 index (FR:PX1) +1.10% 0.8% to 3,032.53.
The German DAX 30 index (DX:DAX) +0.68% rose 0.4% to 6,293.75, with Merck KgaA (DE:MRK) -1.63% up 2.2% after UBS lifted the shares to buy from neutral.
Autos also rose in Germany, with Volkswagen AG (DE:VOW3) -3.43% up 1.6% and BMW AG (DE:BMW) -4.51% adding 1.5%.
Mining stocks were also rising across the board. In London, Anglo American PLC (UK:AAL) +1.63% rose 1.3% and BHP Billiton PLC (UK:BLT) +1.50% BHP -1.67% rose 1%. The FTSE 100 index (UK:UKX) +0.61% rose 0.4% to 5,291.29.
Shares of Man Group PLC (UK:EMG) +6.51% jumped 6% on news that the hedge fund and investment management firm will buy FRM Holdings for up to $82.8 million.

Clic here to read the story from its source.