EGX kicks off week higher on August 17    EGP inches down vs. USD at Sunday's trading close    EGX launches 1st phone app    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    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    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    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    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 Stocks Slip After Moody's Warning
Published in Amwal Al Ghad on 04 - 09 - 2012

Most European stock markets dropped on Tuesday, after Moody's Investors Service cut the outlook on the European Union to negative and warned that the region could lose its Aaa debt rating.
The Stoxx Europe 600 index SXXP fell 0.4% to 267.50, pulling back after the index on Monday posted its best performance in a month.
Among notable movers on Tuesday, Dutch supermarket company Royal Ahold NV AH rose 2.3% as it said it's exploring strategic options for its 60% stake in ICA AB. See: Ahold explores alternatives for ICA venture
For the downside movers, drug makers added the most pressure on the pan-European index.
Roche Holding AG ROG RHHBY gave up 0.9%, Novo Nordisk AS NOVOB lost 0.7% and GlaxoSmithKline PLC GSK GSK tripped 0.7%.
The broader European stock markets headed south as Moody's said it needed to adjust its outlook on the EU due to “the likelihood that the large Aaa-rated member states would likely not prioritize their commitment to backstop the EU debt obligations over servicing their own debt obligations." See: Moody's warns on European Union debt rating
More movers
Wiireless-telecom firm Vodafone Group PLC VOD VOD fell 1.3%, as Bernstein Research cut the stock to market perform from outperform, citing “an increasing number of negative operational risks."
The U.K.'s FTSE 100 index UKX lost 0.4% to 5,734.49.
HSBC Holdings PLC HSBA HBC 5 fell 0.4% and Royal Bank of Scotland Group PLC RBS RBS gave up 1.3%.
In Germany, Volkswagen AG VOW VOW3 lost 1.4%, weighing on the DAX 30 index DAX, which slipped 0.2% to 6,998.04.
France's CAC 40 index PX1 tripped 0.2% to 3,445.97.
Marketwatch


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