Egypt's FM highlights 'soft power' in Mali meeting with alumni    Egypt's foreign minister opens business forum in Niger, targets new partnerships    Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties    Rafah Crossing 'never been closed for one day' from Egypt: PM    Egypt will keep pushing for Gaza peace, aid: PM    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt's current account gap narrows, but overall BoP records deficit    Al-Sisi urges accelerated oil, gas discoveries, lower import bill    SCZONE signs $52.6m textile industry deals during China investment tour    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    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    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    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 stocks turn higher as markets look ahead to US jobs data
Published in Amwal Al Ghad on 31 - 08 - 2016

European stocks pared losses to inch higher Wednesday as global markets gear up for Friday's U.S. jobs report.
The pan-European STOXX 600 index opened lower but by 10 a.m. London time was up 0.2 percent.
Markets were unmoved by data showing that the euro zone inflation rate remained at 0.2 percent in August, unchanged from the previous month. The region's unemployment rate for July also remained unchanged from the previous month, at 10.1 percent.
Shares of Commerzbank were up almost 1 percent after a German magazine report suggested that Deutsche Bank has considered a merger with its German rival. The German Manager Magazin did not cite sources. Neither Deutsche Bank nor Commerzbank would comment on the report.
Meanwhile, French industrial group Bouygues was the best performer on the index with its share price up 2.8 percent after it reported a 73 percent rise in first-half current operating profit despite a slip in sales, Reuters reported.
The family-controlled company also announced preparations for the succession of chairman and chief executive Martin Bouygues.
Global markets appear to be turning cautious ahead of the all-important U.S. jobs data due on Friday. The non-farm payrolls report will be eagerly watched by the U.S. Federal Reserve and could determine whether the central bank increases interest rates in September.
Markets in Asia opened mixed on Wednesday, with Japanese shares gaining on the back of a weaker yen, while traders awaited the key August U.S. nonfarm payroll data due Friday. Meanwhile in the U.S. on Tuesday, stocks closed lower as investors analyzed strong consumer data and also looked ahead to the jobs report.
In business news, the fallout has continued from the European Commission's ruling on Tuesday that Ireland must recover 13 billion euros ($14.5 billion) in back taxes from U.S. tech giant Apple. Both Ireland and Apple have said they will appeal the decision and Washington criticized the move.
In other news, French Economy Minister Emanuel Macron resigned on Tuesday in order to work on his plan "to transform France" but there is speculation that he will run in the 2017 presidential election.
Meanwhile, British consumer confidence bounced back in August after a Brexit blip, a survey by GfK showed on Wednesday.
Flash euro zone inflation data for August and euro zone unemployment data for July are due on Wednesday but there are no major earnings.
Source: CNBC


Clic here to read the story from its source.