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Forecast-busting results from Apple have triggered a bounce in US stock futures and sparked a return to bullish form for global risk assets after a brief hiatus on worries about tortured Greek debt negotiations. However European shares were lower in early trade today, weighed by the tech sector after a sharp post-results decline for Ericsson and a disappointing UK GDP figure. Asian shares rose on Apple's earnings, stabilizing European money markets and falling euro zone debt yields, with investors shifting their focus from Europe to the U.S. Federal Reserve.
US stock index futures pointed to a lower open on Wall Street as concerns about the European debt crisis continued to weigh on investors' minds. European shares also dipped as Greek PSI talks look set to go back to the drawing board. EU finance ministers on Monday rejected proposals by private bondholders over the extent of the haircut they were willing to accept in order to avoid a Greek default on its debts in March.
US futures point to Wall Street opening down today. European shares also fell this morning as worries about a messy Greek default increased after debt talks stumbled again, while weak results from Siemens and KPN also weighed. Australian shares ended flat after shedding earlier gains on a media report that Portugal may be in need of a second bailout fund to repay 9 billion euros of debt in September. Asian trading was quiet as many markets were closed for Chinese New Year.
US stock index futures pointed to a mixed open on Wall Street today as investors waited on news out of Europe over losses private bondholders of Greek sovereign debt would be expected to accept. European shares are higher ahead of a meeting of euro zone finance ministers to discuss terms of a Greek debt restructuring deal, with banks rallying on a report about easier capital rules.
US futures point to Wall Street retreating 0.4 per cent from a six-month peak. European shares rose on a rally in banks boosted by a report saying that France and Germany are calling for a relaxation of global bank capital rules. Asian shares and the euro paused from last week's rally on Monday as investors sweated on the progress of crucial Greek talks on a debt swap deal to avoid a default, while activity was subdued due to the Lunar New Year holiday in much of Asia.
US stock index futures pointed to a mixed open for Wall Street, with Greece still locked in talks with private creditors over a haircut on some of its bonds and ahead of earnings by market bellwether General Electric. European shares have retreated from recent highs, with tech stocks very much in focus, but showing mixed performances.
S&P 500 futures suggest Wall Street will pull back fractionally from near 6-month highs with Google being the only real disappointment in earnings. European shares retreated today from their 5-1/2-month highs in the previous session as major stock index neared an "overbought" territory. Asian shares rose to fresh two-month highs as solid euro zone sovereign debt sales and signs that Greece may be nearing a vital debt-swap deal eased concerns over Europe's refinancing capability, boosting appetite for riskier assets.
U.S. futures are down slightly ahead of a big day for economic news. Strong demand for French and Spanish bonds boosts markets in Europe. Spain sells 6.6 billion euros of government debt. French BTAN sales see solid demand, as well. Successful bond auctions drive the euro higher.
Hedge funds have been known to use hardball tactics to make money. Now they have come up with a new one: suing Greece in a human rights court to make good on its bond payments.
U.S. futures look to open in the red. Markets in Europe were mixed, although advancers outpace declines. Spanish and French bond auctions see strong interest. The Euro dips slightly after the auctions, even though Spain sold 6.6 billion euros worth of bonds, more than planned. Crude prices rise on hope of progress in the euro zone. In Asia, markets are higher following Wall Street's good day and the IMF funding plan. And Aussie shares are near flat on a surprise fall in December jobs data.
David Cameron’s pledge to curb executive pay and stop “rewards for failure” is set to face its biggest test, as Royal Bank of Scotland prepares to offer a bonus of more than £1 million ($1.54 million) to its chief executive, even though the state-controlled bank’s share price has almost halved in a year, the Financial Times reports.
European shares advanced further after an auction of Spanish short-term debt showed strong demand and falling yields. Earlier today higher than expected growth in China pushed stocks in Europe and Asia up. US stock index futures also pointed to Wall Street opening sharply higher after the long weekend.
Investors are bracing for a return to volatility when markets in the United States reopen on Tuesday, the New York Times reports.
US equity futures suggest Wall Street will open sharply higher with the Dow up by 140 points. European shares are also up, hitting a five-month high, with miners gaining from slightly better-than-expected Chinese GDP data. China's GDP data and government efforts to bolster the stock market have triggered a 4.2 per cent surge in Shanghai and a broad rally across Asia.
The United Kingdom will retain its triple-A credit rating this year thanks to the Bank of England’s policy of quantitative easing and demand for UK gilts, City-based analysts told CNBC.
British traders and executives are facing a disappointing bonus season – just as politicians are putting renewed pressure on the bonus culture and executive pay.
Piers Curran, head of trading at Amplify Trading, told CNBC, "this divergence between these two geographical areas is going to get wider and the earnings this week from the US will prove that further."
European stocks were down this morning showing a muted reaction to the mass credit downgrade by S&P of nine euro zone countries. Asian shares fell on fears that the rating cuts would further aggravate the euro zone funding difficulties and threaten to derail progress in resolving the debt crisis. Main U.S. markets are closed for the Martin Luther King, Jr. holiday.
The United Kingdom is likely already back in recession and may see unemployment approach three million before the end of the year, economic think tank the Ernst & Young Item Club forecast on Monday.
As Europe’s debt turmoil enters its third year, no clear solutions are yet in sight — despite recent signs that a new lending program by the European Central Bank might be easing pressures.