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

React to this article
Latest news
Date Title
05:20p QUIKSILVER : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
05:20p SOFT COMPUTING : Studies from Polish Academy of Sciences Have Provided New Data on Logic Research (On Scalar Products and Decomposition Theorems of Fuzzy Soft Sets)
05:20p CASCADES : Release of Cascades' 2015 First Quarter Financial Results and announcement of the Annual General Meeting
05:19p GlaxoSmithKline's Trademark Application for "MILODI" Filed
05:19p WALTON EDGEMONT DEVELOPMENT CORPORATION : Reports Fiscal Year-End and Q4 Quarter 2014 Results, Resignation of Richard R. Singleton as a Director and Appointment of William K.Doherty as a Director
05:18p Patent Issued for Carrier Tray and Method for Manufacturing
05:18p MEI PHARMA : Announces Top-Line Data From Randomized Phase II Clinical Study Of Pracinostat In Front-Line Myelodysplastic Syndrome
05:18p BUSINESS MACHINES : Patent Issued for Construction of Object-Oriented Programming (OOP) Patterns by Behavior Delegation
05:18p PARKER HANNIFIN : Patent Issued for Tie Rod Lock
05:18p OCERA THERAPEUTICS : Other Events, Financial Statements and Exhibits (form 8-K)
Latest news
Advertisement
Hot News 
CEB RESOURCES : Sale of Interest in Balamara Resources Limited
FINANCIER CROI INV : Dissertation research ; Letters
HYDRODEC : To Acquire Eco-Oil International For GBP2.4 Million
EveryWare Global, Inc. Reaches Restructuring Agreement to Create Strengthened Balance Sheet and Sustainable Capital Structure
EVOCUTIS : First Half Loss Narrows, Seeking Further Investments
Most Read News
03/31 DEUTSCHE LUFTHANSA : Nick Clegg: don’t let Andreas Lubitz distort views about mental illness
03/31 SHANTA GOLD : New Loan Facilities
03/31 FOREMOST INCOME FUND : Reports 2014 Results
03/31 NEW FLYER : Winnipeg Bargaining Unit Collective Bargaining Agreement Extension
03/31 Wall St. drops but S&P, Nasdaq register quarterly gains
Most recommended articles
05:18pDJGRAIN HIGHLIGHTS : Top Stories of the Day
05:16pDJCOHEN & STEERS : U.S. Oil Prices Rise Sharply
05:14pDJVisa Demand for High-Skilled Foreigners Is Likely to Prompt Lottery
05:07pDJGoDaddy's Shares Jump Up To 34% In Market Debut--3rd Update
05:06pDJTransocean Files 8K - Changes Executive Management
Dynamic quotes  
ON
| OFF