NBE: Exchange rates of key global currencies rates Wednesday 25-11-2020 vs. Egyptian pound    UAE halts new visas to citizens of 13 states: Document    Tuchel defends injury-ravaged PSG after lacklustre win over Leipzig    Barcelona benefited from fresh legs in win over Dynamo, says Koeman    EgyptAir to begin operating weekly flight between Hurghada, Budapest on Saturdays    EU says Ethiopia fighting destabilising region, urges ceasefire    Russia says it thwarted Islamic State attacks in Moscow region, detains one: RIA    UAE's ADGM to sign MOU with Israel's securities authority on fintech    Youthful Barca take care of Dynamo to seal knockout place    Akhenaten performance at the Cairo Opera House is a must go    An advisory chamber    Golden opportunities    GERD: A point of order?    Leapfrogging the transport network    Steps towards Pan-Africanism    The Egyptian Oedipus    In their footsteps    Cairo International Book Fair suspended for five months over coronavirus concerns    Egyptian Exchange leads COMESA in attracting foreign investments    Orascom-Mitsubishi consortium signs $800m contract for Cairo Metro Line 4    Japan can host Olympics despite virus spike: Tokyo governor    AstraZeneca novel COVID-19 vaccine can be 90% effective, results show    Polling stations open at home for 1st stage of Egyptian parliamentary run-offs    Egypt confirms 358 new coronavirus cases, 14 deaths on Saturday    G20 to discuss post-pandemic world, back debt relief    US will reduce number of its troop in Iraq, Afghanistan    Asia forms world's biggest trade bloc, a China-backed group excluding U.S    Egypt unveils largest archaeological discovery in 2020 with over 100 intact sarcophagi    Palestinians mourn the loss their longtime spokesman, Saeb Erekat    Trump says won't blame Egypt for being ‘upset' over GERD dispute with Ethiopia    1st stage of Egypt's parliamentary elections kicks off on Saturday    Global Finance: Egypt's Tarek Amer among the world's top 20 central bank governors    Legend footballer Lionel Messi says he is forced to stay with Barcelona    Egypt, Ethiopia, Sudan to resume Nile dam talks today    Iraqi conglomerate eyes developing land that housed Mubarak-era ruling party HQ    Legend Messi officially wants to leave Barcelona, hands transfer request    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    

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

European markets mostly lower as Brexit hits another roadblock
Published in Amwal Al Ghad on 23 - 10 - 2019

European markets traded mostly lower Wednesday morning after British lawmakers forced Prime Minister Boris Johnson to pause the progression of his Brexit deal.
The pan-European Stoxx 600 fell 0.3 percent in morning trade, tech stocks dropping 1.4 percent to lead losses, on the back of a bleak Texas Instruments revenue forecast, as most sectors traded in negative territory.
Lawmakers on Tuesday night voted in principle for Johnson's Withdrawal Agreement Bill to proceed through parliament, but rejected the prime minister's plans to get it approved within three days, which offered a limited time frame for MPs to review the legislation.
Focus now turns to the EU for a verdict on whether to grant an extension to the October 31 deadline, a move recommended by EU Council President Donald Tusk, and for how long.
Should the deadline be extended to January 31, Johnson could call a general election in a bid to consolidate his mandate, with his ruling Conservative Party leading in the polls.
Earnings in focus
PSA Peugeot Citroen reported rising third-quarter revenues before the bell on Wednesday despite a gloomy outlook for the auto market. Revenue rose to 15.58 billion euros ($17.35 billion) from 15.43 billion euros a year earlier. The French carmaker expects automotive markets to decline by 1 percent in Europe, 5 percent in Latin America and 7 percent in China.
Dutch brewer Heineken trimmed its profit forecast for the year after a drop in third-quarter sales in the Americas, causing its shares to fall 1.6 percent in early trade.
AkzoNobel saw its core profit jump 23 percent in the third quarter and announced a 500 million euro ($556 million) share buyback, leading the stock 1.1 percent higher.
Biggest movers
Pandora shares jumped 12.2 percent to lead the Stoxx 600 in early trade after Carnegie upgraded the Danish jeweler's stock to hold from sell, according to Reuters.
Norwegian financial services group Storebrand climbed 5.8 percent early in the session after strong third-quarter results, while compatriot insurance company Gjensidige Forsikring suffered contrasting fortunes following its earnings report, sliding 5.2 percent to the bottom of the European blue chip index.
Source: CNBC

Clic here to read the story from its source.