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News Tag: currencies

June 18, 2010

World Bank urges flexible yuan

by Kay Mitchell
World Bank urges flexible yuan
China is still under pressure to allow its currency, the yuan, to find its own level, in order to ease inflation and to prevent the economy from overheating. The World Bank is now urging the Chinese Government to allow the yuan, which is also referred to as the renminbi, to strengthen against other international currencies. US legislators and trade groups have previously said ...




June 1, 2010

Prudential deal with AIA on verge of collapse

by Kay Mitchell
”Prudential
British insurance giant Prudential has failed to renegotiate the price of its takeover of AIA, the Asian arm of US company American International Group (AIG). The deal now looks set to collapse after AIA snubbed the lower price tag of $30.375 billion. It emerged last week that the Pru, which is Britain’s second largest insurer, was renegotiating with AIA after investors ...




March 24, 2010

Euro continues to lose value amid Greek debt crisis

by Kay Mitchell
Euro continues to lose value amid Greek debt crisis
The euro continues to lose value as investors remain concerned about a solution for Greece’s fiscal problems. The currency fell to a record low of 1.4232 francs on trading platform EBS, while falling to an all-time low against the Australian dollar to $1.4654. Against the US dollar, it fell to $1.3459 - close to a ten-month low of $1.3432. Greece currently ...




March 1, 2010

Sterling dives to 10-month low amid election fears

by Kay Mitchell
’Sterling
The pound plummeted to a 10-month low today over fears of a possible hung parliament in the forthcoming election. Sterling lost 1.6% and dipped below $1.50 for the first time since May 2009 - it has already lost 7% against the dollar this year. The pound also lost ground against the euro and many other major currencies. A Sunday ...




September 15, 2009

Yell Group gains 8 percent

by Elaine Frei
Yell Group gains 8 percent
Equities markets in Europe were higher Tuesday on good news from the United States, where retail sales were reported up in August, manufacturing in the New York region saw gains and US Federal Reserve Chairman Ben Bernanke said that the recession is likely over in the US. The FTSE 100 was 0.46 percent higher to 5,042.13 in London, while the FTSE 250 added ...




September 11, 2009

Man Group leads 100 with 9 percent gain

by Elaine Frei
Man Group leads 100 with 9 percent gain
European equities markets ended higher Friday, with miners up in London. The FTSE 100 added 0.48 percent to 5,011.47 in London, while the FTSE 250 was up 0.9 percent to 9,207.89. Brokerage Man Group (LSE: EMG) turned in the best performance on the 100 with as it added 8.89 percent, while Home Retail Group (LSE: HOME) led decliners on the index ...




August 25, 2009

Punch Taverns adds 21.65 percent

by Elaine Frei
Punch Taverns adds 21. 65 percent
European equities markets were higher Tuesday on good economic news from the United States. The FTSE 100 was up 0.42 percent to 4,916.8 in London, whiel the FTSE 250 added 0.33 percent to 8,860.81. Pubs operator Punch Taverns (LSE: PUB) led gains on the 250 and topped a mixed travel and leisure sector as it added 21.65 percent on the session. The FTSE Eurofirst ...




August 19, 2009

Yell Group adds 16 percent on 250

by Elaine Frei
Yell Group adds 16 percent on 250
European equities markets were mixed Wednesday, with London’s markets up slightly but others seeing declines. The FTSE 100 added 0.08 percent to 4,689.67 in London, while the FTSE 250 was up 0.19 percent to 8,370.25. Over on the 250, directories publisher Yell Group (LSE: YELL) led gainers on the index and in a mixed media sector as it added 16.03 percent. The FTSE ...




August 17, 2009

Drug maker Shire sees gains on session

by Elaine Frei
Drug maker Shire sees gains on session
European equities markets were lower Monday, with the FTSE 100 1.46 percent lower to 4,645.01 in London, while the FTSE 250 fell 2.84 percent to 8,274.09. Drug maker Shire (LSE: SHP) turned in the best performance of the day on the 100 as it added 2.21 percent and GlaxoSmithKline (LSE: GSK) also was among the top 5 gainers on the index ...




August 14, 2009

Taylor Wimpey leads London housebuilders higher

by Elaine Frei
Taylor Wimpey leads London housebuilders higher
European equities markets were lower Friday as investors worried about new data on US consumer confidence which called into question how fast the economy will recover from the recession. The Reuters/University of Michigan consumer confidence index was at 63.2 in August, down from 66 in July and below an expected rise to 68.5. In London, the FTSE 100 was down 0.87 percent to ...




August 12, 2009

Balfour Beatty leads as 100 gains

by Elaine Frei
Balfour Beatty leads as 100 gains
European equities markets were higher Wednesday as utilities shares were higher and most banks were higher. The FTSE 100 added 0.97 percent to 4,716.76 in London, while the FTSE 250 was up 0.59 percent to 8,351.93. Construction and engineering group Balfour Beatty (LSE: BBY) led the 100 with a gain of 8.26 percent, while over on the 250, Emerald Energy (LSE: EEN) led ...




August 11, 2009

International Power adds 7.25 percent

by Elaine Frei
International Power adds 7.25 percent
European equities markets were lower Tuesday after new data from the US Commerce Department showed that wholesale inventories in the United States dropped by 1.7 percent in June, to their lowest in nearly two years. The new figures put the economic recovery in doubt. The FTSE 100 was 1.08 percent lower to 4,671.34 in London, while the FTSE 250 dropped 1.41 percent to 8,302.66. Utilities ...




July 8, 2009

Insurer Legal & General drops 8.6 percent

by Elaine Frei
Insurer Legal & General drops 8.6 percent
European equities markets were lower again Wednesday. The FTSE 100 was down 1.12 percent to 4,140.23 in London, while the FTSE 250 was 1.76 percent lower to 7,189.9. The top three losers on the 100 were all in the insurance sector, led by Legal & General (LSE: LGEN) with a decline of 8.66 percent. The FTSE Eurofirst 300 was down 1.25 percent to ...




July 2, 2009

Diageo sees best day on 100; WPP Group drops most

by Elaine Frei
Diageo sees best day on 100; WPP Group drops most
European equities markets were lower Thursday after new data from the United States Labor Department revealed that unemployment was up again there in June and on a separate report that said Eurozone unemployment rose to 9.5 percent, the highest level in a decade. In London, the FTSE 100 was 2.45 percent lower to 4,234.27 while the FTSE 250 ...




June 29, 2009

British Airways declines in winning London session

by Elaine Frei
British Airways declines in winning London session
European equities markets saw gains Monday as the European Commission predicted that the worst of the economic crisis could be over in the region even though a separate report from the Commission warned that unemployment could remain high and could limit recovery. In London the FTSE 100 was 1.25 percent higher to 4,294.03 while the FTSE 250 added 1.23 percent to ...




June 16, 2009

BT Group, Telecom Plus lead 100, 250

by Elaine Frei
BT Group, Telecom Plus lead 100, 250
European equities markets were mixed Tuesday, with London markets reflecting the varied results in the rest of Europe. The FTSE 100 was up 0.06 percent to 4,328.57 while the FTSE 250 was 0.13 percent lower to 7,483.6. Telecommunications-related shares were the top winners on both London indexes as BT Group (LSE: BT.A; NYSE: BT) added 8.01 percent on the 100 while multi-utility ...




June 15, 2009

Lonmin biggest loser among miners

by Elaine Frei
Lonmin biggest loser among miners
European equities markets were lower Monday, with individual gainers difficult to come by on the main indexes in London, Paris and Frankfurt. The FTSE 100 was 2.61 percent lower to 4,326.01 in London, while the FTSE 250 fell 2.57 percent to 7,493.52. The five biggest losers on the 100 were all in the mining sector, with Lonmin (LSE: LMI) seeing the biggest decline on ...




June 10, 2009

Vedanta Resources leads miners, FTSE 100

by Elaine Frei
Vedanta Resources leads miners, FTSE 100
European equities markets were higher Wednesday as most miners saw gains on speculation that prices for some metals could go higher in the next few years. In London, the FTSE 100 was up 0.73 percent to 4,436.75 and the FTSE 250 added 0.5 percent to 7,729.98. The five top gainers on the 100 were all from the mining sector, led by Vedanta Resources ...




June 9, 2009

Thomas Cook Group leads 100 with 10 percent gain

by Elaine Frei
Thomas Cook Group leads 100 with 10 percent gain
European equities markets were mixed Tuesday, with most up but a few lower. In London the FTSE 100 dropped 0.01 percent to 4,404.79 while the FTSE 250 added 0.05 percent to 7,691.65. Travel agent Thomas Cook Group (LSE: TCG) saw the best result of the day on the 100 as it added 10.04 percent while insurer Aviva (LSE: AV) dropped ...




June 8, 2009

Hochschild leads miners lower

by Elaine Frei
Hochschild leads miners lower
Europe’s equities markets saw declines Monday as banks stocks and miners had trouble gaining traction. The FTSE 100 was 0.75 percent lower to 4,405.22 in London, while the FTSE 250 dropped 0.77 percent to 7,687.86. Among miners, Hochschild Mining (LSE: HOC) dropped 7.7 percent for the worst performance of the day on the 250 and the worst loss in the sector, while over on the ...