Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Europe's Markets Mildly Positive; Central Banks in Focus

01/14/2013 | 02:56am US/Eastern

European financial markets were mildly positive Monday, with the euro up against the dollar, oil and gold firm and stocks a touch higher overall as market participants focus firmly on stimulus plans from the world's most powerful central banks.

Later Monday, Federal Reserve Chairman Ben Bernanke will give a speech on monetary policy, the recovery from the financial crisis and the long-term challenges facing the U.S. economy. Investors will be waiting eagerly for any hints as to when the Fed will put the brakes on monthly bond purchases and for any changes to monetary policy.

The dollar was firmer against the yen after Japan's Prime Minister Shinzo Abe said Sunday that the Bank of Japan needs to state a clear 2% inflation target. The prospect for even looser monetary policy by the Bank of Japan will continue to weigh on the yen. Earlier the dollar traded at Y89.67, its highest since June 25, 2010. Japan's benchmark stock market was closed for a public holiday.

There was further support for markets out of Asia on reports that the head of China's securities regulator said it could substantially increase the quota for foreign investors to invest in domestic stocks as a means to develop the market. "Demand for riskier assets has been unrelenting," said Rabobank in a note to clients.

In addition, investors are looking ahead to a busy week of earnings, particularly from the U.S. bank sector. Goldman Sachs, JPMorgan Chase & Co. and Citigroup are among those reporting earnings.

"A host of earnings this week, especially from financials will help dictate the equity market and in turn risk tone over coming days," said Credit Agricole Corporate & Investment Bank. The Stoxx 600 index for banks was among the biggest gainers early on Monday, while Societe Generale was one of the top gainers in the euro zone following a rating upgrade by Credit Suisse.

Also in corporate news, building materials company Compagnie de Saint-Gobain surged after receiving an offer for Verallia North America from Irish group Ardagh.

TNT Express NV's shares fell by as much as 50% Monday after the European Commission looked set to block United Parcel Service Inc.'s $6.8 billion bid for the company.

Write to Andrea Tryphonides at andrea.tryphonides@dowjones.com or on Twitter @ATryphonides

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Latest news
Date Title
<1m ago VCE Enters Next Phase of Growth and Innovation as an EMC Business; Strategic Investors Cisco and VMware Continue Full Support and Alignment
<1m ago September mortgage approvals fall to lowest level since July 2013 - BBA
1m ago MECOM : Earnings Fall On Weak Dutch Business, Sluggish Advertising
3m ago ADAMAS FINANCE ASIA : Further Exit with 28.2% IRR Highlights Strength of Repositioning Strategy
3m ago DEPARTMENT OF PUBLIC ENTERPRISES REPUBLIC OF SOU : Special General Meeting of SAA Board on 23 October 2014
3m ago UFU ULSTER FARMERS' UNION : on EU Commission Group to discuss CAP Direct Payments and Greening
3m ago MARWYN VALUE INVESTORS : Net Asset Value
3m ago TAMBURI INVESTMENT PARTNERS : Meeting partecipation “Italian Corporate M&A Practice Group Meeting”, in Baker & McKenzie office, Milan
3m ago KUMBA IRON ORE : production and sales report for the quarter ended 30 September 2014
3m ago SOFTBANK : Dividend Payout (Interim Dividend)
Latest news
Advertisement
Hot News 
FOXTONS : Downgrades Full-Year Earnings Guidance On Poor Third Quarter
BLOOMSBURY PUBLISHING : Unaudited Interim Results for the six months ended 31 August 2014
UNISYS : Patent Application Titled "Systems and Methods for Identifying Fraud in Transactions Committed by a Cohort of Fraudsters" Published Online
WILLBROS : Harwood Feffer LLP : Announces Investigation of Willbros Group, Inc.
NEWCASTLE INVESTMENT : Announces Details for Completion of New Senior Spin-Off and Investor Call on October 17, 2014 at 8:30 AM ET
Most Read News
1d ago ATMEL : Patent Issued for Apparatus and Method for Increasing the Quantity of Discrete Electronic Components in an Integrated Circuit Package
1d ago TERADYNE : beats Street 3Q forecasts
1d ago EXELON : ICC Approves ComEd’s Grand Prairie Gateway Project
1d ago AT&T revenue misses forecasts as more customers bring own phones
1d ago NORTHFIELD BANCORP : Announces Third Quarter 2014 Results
Most recommended articles
6m ago UK retail sales fall in September, hit by weak clothing demand
16m ago Apple CEO says to add 25 stores in China within two years - Sina
23m ago French business slump deepens as firms slash prices - PMI
26m ago Bank of England's Broadbent says underlying interest rates to eventually rise
30m ago EURO ZONE BUSINESS GROWTH UNEXPECTEDLY GAINS PACE, PRICES STILL FALLING : Pmi
Dynamic quotes  
ON
| OFF