×

Europe News London

  • Key currencies stayed in recent ranges on Wednesday, waiting for developments in Europe on efforts to solve the debt crisis and for the U.S. monthly jobs report on Friday as well as China's official manufacturing PMI on Thursday. Financial spreadbetters expect London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to open as much as 0.2 percent lower.

  • When plans for Qatar to create a €50 m euro fund to invest in some of Paris's poorest suburbs emerged last month, the French political right and left united in disapproval. Yet the reaction shows a fundamental misunderstanding of the way Qatar operates globally and what it is trying to achieve.

  • LONDON, Oct 31- British academic researchers have secured 7 million pounds of funding from the country's Medical Research Council to investigate a range of potential new drugs made available free-of-charge by AstraZeneca. AstraZeneca did initial tests on these chemicals but then put them on hold for a variety of reasons.

  • LONDON, Oct 30- World shares rose modestly in subdued trading on Tuesday as investors and traders readied for U.S. markets to reopen after a massive storm that wrought destruction across the eastern United States.

  • NEW YORK, Oct 30- The euro rallied against the dollar and yen on Tuesday after data showed the Spanish economy contracted slightly less than expected in the third quarter and Italy's borrowing costs fell at a sale of five- and 10- year debt.

  • LONDON, Oct 30- Gold prices were little changed on Tuesday as E uropean s tock markets rose and the dollar weakened, but moves were limited as New York markets remained closed due to Hurricane Sandy, and ahead of a key U.S. jobs report due later this week. Spot gold rose by just 0.6 cents to $1,7 09. 86 an ounce a t 3: 23 p.m. U. S. gold futures for December rose $3. 40 to $1,712. 1 0.

  • NEW YORK, Oct 30- U.S. gasoline and heating oil futures slid on Tuesday, pulling back from pre-Hurricane Sandy gains as several key East Coast refineries and pipelines restored operations and traders bet on an enormous hit to demand for fuel.

  • LONDON, Oct 30- Imperial Tobacco has taken a 1.2 billion-pound writedown on its Spanish business as the impoverished country's smokers turn to cheaper black market cigarettes.

  • *Camden International says its 9 cocoa warehouses not damaged by storm. NEW YORK/ LONDON, Oct 30- Arabica coffee futures turned lower on Tuesday, giving back the previous session's gains, as many traders believed exchange stocks in U.S. East Coast warehouses were unscathed by Hurricane Sandy, one of the biggest storms ever to hit the region.

  • NEW YORK, Oct 30- The euro rallied against against the dollar and yen on Tuesday after data showed the Spanish economy contracted slightly less than expected in the third quarter and Italy's borrowing costs fell at a sale of five- and ten-year debt.

  • LONDON, Oct 30- UBS's retreat from lucrative fixed income markets around the world is unlikely to be followed by its rivals, although rising costs and tougher regulations make more deep cuts at other banks inevitable.

  • *Adoboli says trading losses made him catatonic. LONDON, Oct 30- Former UBS trader Kweku Adoboli told a London court on Tuesday he ``lost control'' in the summer of 2011 but insisted he never acted dishonestly in the frantic weeks that resulted in losses of $2.3 billion.

  • LONDON, Oct 30- Reassuring business updates from oil major BP and several major banks lifted European shares on Tuesday, with a key European equity index reaching its highest in more than a week.

  • LONDON, Oct 30- Dozens of UBS traders spent their day in the pub rather than at the Swiss bank's London headquarters after they found out that their security passes no longer worked. As more turned up for work queues began to form at the bank's doors until some took refuge instead in the Railway Tavern pub nearby.

  • *Sandy leaves New York City, eastern U.S. crippled. NEW YORK, Oct 30- U.S. gasoline and heating oil futures pulled back on Tuesday on the expected enormous hit to demand for fuel after Hurricane Sandy cut a destructive path across the East Coast of the United States.

  • LONDON, Oct 30- Britain is edging closer to its vision of low-carbon energy based on large-scale nuclear power and fossil fuels with carbon capture, which contrasts with small-scale renewable energy which many of its European neighbours favour.

  • LONDON, Oct 30- Gains in oil major BP and several major bank stocks after results lifted European shares on Tuesday, with a key European equity index reaching its highest level in more than a week.

  • *Spain yields stable, seen potentially outperforming Italy. Investors' attention, previously fixed on Spain, had turned back to Italy after former Prime Minister Silvio Berlusconi threatened at the weekend to withdraw support for Mario Monti's technocrat government before elections in April.

  • LONDON, Oct 30- Copper rose on Tuesday, rebounding from a near 2- month low hit in the previous session, supported by a weak dollar and some cautious industrial buying, but concerns about sluggish demand from top consumer China capped further gains.

  • LONDON, Oct 30- Arabica coffee futures turned lower on Tuesday as early reports suggested that exchange stocks in warehouses on the United States' East Coast were left unscathed by Sandy, one of the biggest storms ever to hit the region.