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CNBC's Ross Westgate reports on all the market moving events from Europe, as stocks shifted higher despite weak economic data from the U.S. yesterday.
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GENEVA, May 15- Argentina has launched a dispute against the European Union at the World Trade Organization, challenging rules for importing and marketing biodiesel applied by Spain, Belgium, France, Italy and Poland, the WTO said on Wednesday.
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MOSCOW, May 15- MegaFon has overtaken its main competitor in Russia's cut-throat mobile phone market, posting bumper earnings on Wednesday to help crown it leader by market value and put its other rival in the shade.
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GENEVA, May 15- Argentina has launched a dispute against the European Union at the World Trade Organization, challenging rules for importing and marketing biodiesel used by Spain, Belgium, France, Italy and Poland, the WTO said on Wednesday.
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LONDON, May 15- The euro hit a six-week low against the dollar and European shares rose on Wednesday after euro zone economic data undershot already weak expectations, strengthening the case for another interest rate cut.
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*Follows EC probe, searches of BP, Shell, Statoil offices. LONDON, May 15- Britain expects oil firms to fully comply with a European Commission's probe into energy pricing and would be deeply concerned if prices have been driven up, a spokesman for Prime Minister David Cameron said on Wednesday.
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*Banca Monte dei Paschi di Siena jumps after results. Banking stocks were among the biggest gainers, with Italy's Banca Monte dei Paschi di Siena jumping 8 percent after posting a smaller-than-expected quarterly loss and confirming its intention to pay a coupon on state loans in cash, sparking hopes of a turnaround for the lender.
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*Germany returns to anaemic growth; France shrinks. BRUSSELS/ BERLIN, May 15- Germany's economy crept back into growth at the start of the year but not by enough to stop the euro zone from contracting for a sixth straight quarter, and France slid into recession.
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LONDON, May 15- The euro hit a six-week low against the dollar on Wednesday after data showing the euro zone economy contracted more than expected in the first quarter of the year, strengthening the case for another interest rate cut.
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*France, Italy, Spain, Netherlands, Finland all shrink.
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Daniele Antonucci, senior European economist at Morgan Stanley, tells CNBC there is the perception of a policy backstop in the euro zone, which enables a search for yield despite poor macro data.
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*Banca Monte dei Paschi di Siena rises after results. PARIS, May 15- European shares were mixed in early trade on Wednesday, taking a breather from a sharp rally started in mid-April, with lower-than-expected growth data for Germany and France denting investor appetite.
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BRUSSELS, May 14- The European Commission plans to send a formal warning to China that it is ready to levy trade duties against telecoms equipment makers Huawei Technologies Co Ltd and ZTE Corp over what it says are illegal subsidies, people close to the matter said.
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NEW YORK, May 14- The yen fell against the dollar on Tuesday for a fourth straight session, hitting its lowest level in 4-1/ 2 years as signs that the U.S. economy is improving and a global equities rally favored the greenback.
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BRUSSELS, May 14- The European Commission plans to send a formal warning to China that it is ready to levy sanctions against telecoms equipment makers Huawei and ZTE Corp over illegal subsidies, people close to the matter said.
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CNBC's Simon Hobbs reports on all the market moving events in Europe today, as shares moved higher after hedge fund manager David Tepper told CNBC he is "definitely bullish" on stocks.
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MILAN-- Italian bank Intesa SanPaolo says first-quarter earnings fell 62 percent due to lower interest income and higher loan losses. The bank reported Tuesday a net income of 306 million euros in the first quarter, down from 804 million euros last year.
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NEW YORK, May 14- The euro was steady on Tuesday as stronger-than-expected euro zone industrial output offset data showing German investor morale pointing to a tepid recovery in Europe's largest economy. Also weighing on the euro is the risk that the European Central Bank could slash its deposit rate, at which banks park surplus funds with it, to negative.
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LONDON, May 14- Signs the dollar was preparing for another move higher held down oil and gold prices on Tuesday and helped shares shake off worries over weaker-than-forecast German sentiment data.
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LONDON, May 14- Rejection by the world's trade body last week of preferential support for domestic solar panel makers in Canadian province Ontario brings helpful but limited guidance in a growing number of other disputes.
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LONDON, May 14- The euro fell on Tuesday after German investor morale pointed to a tepid recovery in Europe's largest economy and offset a bigger-than-expected rise in industrial output in the euro zone.