Europe: Economy


  • *Gold extends losses after drop overnight. LONDON, Oct 23- Gold prices eased on Thursday as better-than-expected euro zone business activity data lifted stock markets from early lows, while the dollar index held near its highest in a week and demand for the physical metal softened. Spot gold was down 0.1 percent at $1,239.50 an ounce at 0936 GMT, while U.S. gold...

  • QE a 'tool on the table' for ECB: GSAM's Koch     Thursday, 23 Oct 2014 | 5:05 AM ET

    Katie Koch, head of global portfolio solutions at Goldman Sachs Asset Management, says she expects the European Central Bank to carry out full blown quantitative easing.

  • LONDON, Oct 23- The euro recovered from a two-week low against the dollar on Thursday after data showed euro zone business growth unexpectedly picked up in October, though gains could be fleeting amid continued expectations of more monetary easing. The euro rose to $1.2662, rebounding from a two-week low of $1.2614 hit after data showed France's preliminary...

  • Eurozone survey rise does not ease recession fears Thursday, 23 Oct 2014 | 4:33 AM ET

    LONDON— A stronger than anticipated economic survey Thursday failed to inspire much optimism in European markets amid ongoing worries over the state of the 18- country eurozone and of France in particular. A broad survey of activity in the manufacturing and services sectors by financial information company Markit rose unexpectedly in October.

  • *PMIs suggest Q3 economic growth of 0.3 pct- Markit. Markit's Composite Flash Purchasing Managers' Index, based on surveys of thousands of companies across the region and seen as a good indicator of growth, rose to 52.2, above all forecasts in a Reuters poll. Most worrying is the decline in new orders, "said Chris Williamson, chief economist at data collator Markit.

  • Spanish jobless figure drops as economy picks up Thursday, 23 Oct 2014 | 3:32 AM ET

    MADRID— Spain's unemployment rate dropped to 23.7 percent in the third quarter from 24.5 percent in the previous three-month period thanks to a recovering economy and a bumper summer tourism season, official statistics showed Thursday. The number of jobless people fell by 195,200 July through September, leaving the total number of unemployed at a rounded...

  • Unilever: prices falling in Europe, China weak Thursday, 23 Oct 2014 | 3:05 AM ET

    AMSTERDAM— Unilever PLC, the maker of consumer products including Dove soaps, Lipton teas and Ben& Jerry's ice cream, says it saw price deflation in Europe's largest markets in the third quarter. The company said it saw price deflation in many markets across Europe, including Germany, France and Britain. Unilever said growth is slowing in emerging markets.

  • How will European banks fare in stress test?     Thursday, 23 Oct 2014 | 12:42 AM ET

    Antonio Timoner-Salva, Senior Economist at IHS, expects at least 10 of the 130 banks to fail the European Central Bank¿s comprehensive assessment and related stress tests.

  • Japan's Nikkei share average fell 0.5 percent while MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent. The flash HSBC/ Markit manufacturing purchasing managers' index edged up to a three-month high of 50.4 from a final reading of 50.2 in September, and just a hair's breadth from the 50.3 reading forecast by analysts.

  • SINGAPORE, Oct 23- Gold steadied above $1,240 an ounce on Thursday after dipping overnight on a stronger dollar, but caution prevailed ahead of a host of global economic data and on further outflows from bullion funds. *Spot gold was little changed at $1,241.60 an ounce by 0045 GMT, after losing 0.7 percent in the previous session. *Investors will be eyeing data from...

  • DIARY - Top economic Events to Nov 4 Wednesday, 22 Oct 2014 | 8:01 PM ET

    Treasury Under Secretary David Cohen speaks on "Disrupting ISIL's Money Trail" before the Carnegie Endowment for International Peace in Washington- 1400 GMT. LONDON- Bank of England Deputy Governor Ben Broadbent gives a speech on monetary policy outlook to Society of Business Economists- 0805 GMT. OTTAWA- Bank of Canada Governor Stephen Poloz and Senior...

  • Goldman exec: Mixed earnings reflect the economy Wednesday, 22 Oct 2014 | 11:54 AM ET
    Gary Cohn, Goldman Sachs

    Goldman Sachs president and COO Gary Cohn discusses how mixed earnings reflect the broader economy and prospects for U.S. growth.

  • Sept CPI slightly above forecast, gives dollar added boost. NEW YORK, Oct 22- The U.S. dollar extended broad-based gains on Wednesday after marginally higher-than-expected U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro. The sharp drop in U.S. yields last week was driven by fears of a...

  • EDINBURGH, Oct 22- European shares nudged higher on Wednesday, supported by a raft of positive corporate earnings and mild inflation data from the United States which may encourage the U.S. However, the session was volatile, with euro zone banks under pressure after Spain's Efe news agency reported that several European lenders might fail EU bank stress tests.

  • NEW YORK, Oct 22- U.S. The U.S. Labor Department said its Consumer Price Index, the government's broadest inflation gauge, edged up 0.1 percent last month after falling 0.2 percent in August. "Given the anxious environment we are in, this report came as a bit of a balm," said Com Crocker, managing director of government and agency securities trading at Mesirow Financial...

  • Hungary planning onerous tax on Internet use Wednesday, 22 Oct 2014 | 7:04 AM ET

    BUDAPEST, Hungary— Hungarian Internet users, activist groups and opposition parties are rejecting a government plan to impose a heavy tax on Internet use from next year. Opposition parties on Wednesday called on the government to scrap the plan, while Hungary's Information and Communication Technology Association said the tax would lead to a fall in...

  • LONDON, Oct 22- Most Bank of England policymakers are firmly against raising interest rates, seeing little evidence of inflation pressures while the slowing euro zone poses growing risks, minutes of their latest meeting showed. The majority of the Bank's rate-setters saw good reasons to keep rates at their record low of 0.5 percent at their Oct. 7-8 meeting,...

  • European bank stress tests: Your guide Wednesday, 22 Oct 2014 | 3:53 AM ET

    Europe’s banks will find out whether they have passed their health checks this Sunday. Here’s a CNBC guide on Europe’s latest bank stress tests.

  • *Orders rise 24 pct to $11.2 bln vs $10.1 bln poll f'cast. ZURICH, Oct 22- Swiss engineering group ABB posted a bigger-than-expected rise in third-quarter orders, helped by demand from the oil and gas industries, but said the outlook for the global economy was increasingly uncertain. The Zurich- based firm showed encouraging signs of increased order momentum at...

  • Christoph Kaml, CFO at Palfinger, says the Austrian crane-maker's international businesses are making up for the weak orders in Europe.

Contact Europe: Economy


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