Europe News London

  • *OPEC sees bearish oil market for rest of 2019. NEW YORK, Aug 19- Oil prices were up more than 1% on Monday after a weekend attack on a Saudi oil facility by Yemen's Houthi forces and as traders looked for signs that top economies would take measures to counteract a global slowdown. Iran- related tensions appeared to ease after Gibraltar released an Iranian tanker it...

  • *China unveils interest rate reform, boosts risk appetite. *Focus on Fed's Jackson Hole symposium. "We think the more accommodative central bank backdrop should help insulate the downside in risk markets," said Mazen Issa, senior FX strategist at TD Securities in New York.

  • NEW YORK, Aug 19- The cost of insuring against an Argentine sovereign default rose on Monday after opposition candidate Alberto Fernandez said the country would struggle under present conditions to repay a loan to the International Monetary Fund. Monday is a market holiday in Argentina but bonds were traded elsewhere in thin volumes, with both the century and...

  • *FTSE 100 up 1%, FTSE 250 up 1.5%. Aug 19- London's FTSE 100 bagged gains on Monday led by oil majors and Asia- exposed banks that rose on moves by China to keep business interest rates low, while pub operator Greene King helped midcaps outshine after agreeing to be bought out. The FTSE 100 added 1%, its biggest one-day rise in more than 10 days, but a 50% surge in Greene King...

  • ABUJA, Aug 19- Nigeria's central bank will strive to protect the country's currency reserves after a British court ruling granted a small natural gas firm the right to try to seize $9 billion in assets from Nigeria's government, the bank's head said on Monday. Such a sum would be one of the largest financial liabilities imposed on Nigeria in its history,...

  • *China central bank rate reforms, Germany stimulus report help. The prospect of Germany's coalition government ditching its balanced budget rule to take on new debt and launch stimulus steps also helped the mood, after boosting Wall Street shares on Friday. Berlin could make available up to 50 billion euros of extra spending, Finance Minister Olaf Scholz said...

  • With hopes of fiscal stimulus from Germany growing and steps by China over the weekend to cut corporate lending costs pushing up equities, growth-sensitive currencies such as the Australian dollar also edged higher. and. "Markets seem to be recovering after last week's selloff though some of the safe haven currencies still seem to be in demand," said Adrian...

  • BRUSSELS, Aug 19- The European Commission said on Monday that the EU was ready for a no-deal Brexit and that Britain would suffer most under such a scenario. Speaking at a regular daily briefing, Commission spokeswoman Natasha Bertaud said a no-deal UK exit would never be the EU's preferred scenario, adding that the Brussels- based executive saw no need for...

  • LONDON, Aug 18- The final five minutes of trading have become the busiest time of day for stock market traders in Europe. Aside from an initial burst of activity after the open in the morning followed by a brief flurry when Wall Street opens, a growing portion of the daily equity volumes is now concentrated into the five-minute closing auctions at the end of the day.

  • LONDON, Aug 19- Uber appointed a new boss for Britain and Ireland on Monday just over a month before its licence expires in London, one of its most important global markets where the regulator has previously stripped it of its right to operate. Transport for London rejected the Silicon Valley company's licence renewal request in 2017 due to failings it said it...

  • LONDON, Aug 19- Uber appointed a new boss for Britain and Ireland on Monday just over a month before its license expires in London, one of its most important global markets where the regulator has previously stripped it of its right to operate. Transport for London rejected the Silicon Valley company's license renewal request in 2017 due to failings it said it...

  • LONDON, Aug 19- The euro steadied on Monday after suffering its biggest weekly drop in nearly two months as risk appetite gradually returned to global markets after a week of turmoil. With hopes of fiscal stimulus from Germany growing and steps by China over the weekend to cut corporate lending costs pushing up equities, growth-sensitive currencies such as the...

  • SINGAPORE, Aug 19- Copper prices advanced on Monday as China announced new measures to support its economy amid a damaging trade war with the United States, potentially improving demand for the red metal. Three-month copper on the London Metal Exchange rose 0.8% to $5,791 a tonne by 0704 GMT, while the most-traded copper contract on the Shanghai Futures...

  • SINGAPORE, Aug 19- Copper prices rose on Monday after China, the world's top consumer of the red metal, announced new measures to support its economy amid a damaging trade war with the United States. President Donald Trump said he was less optimistic than his aides on striking a trade deal with China, saying that while he believed China was ready to come to an...

  • *Says UK will face fuel, food, drug shortages. *Protests could break out across the UK. LONDON, Aug 18- Britain will face shortages of fuel, food and medicine if it leaves the European Union without a transition deal, according to leaked official documents reported by the Sunday Times, but whose interpretation was contested by ministers.

  • OTTAWA, Aug 16- Canada on Friday announced a multi-billion dollar contract with General Dynamics Corp for equipment that will be manufactured in a region where the ruling Liberals need to do well in an October election. Defence Minister Harjit Sajjan said Ottawa would buy 360 light armored vehicles from General Dynamics Land Systems Canada in a deal worth up...

  • LONDON, Aug 16- New British finance minister Sajid Javid is looking at how best to take advantage of record-low borrowing costs when he sets out his first budget later this year, according to an interview published late on Friday. Many economists think Britain's economy could contract if Johnson follows through on a threat to take the country out of the EU...

  • WASHINGTON, Aug 16- A flurry of interest rate cuts by the U.S. But the geographic spread of actions, from the central banking capitals of Washington and Frankfurt, to financial centers like London, and a host of emerging markets, shows how the world's central banks have become more closely tethered to one another, with the Fed as the dominant player.

  • *Stocks jump on growing expectations of central bank stimulus. NEW YORK, Aug 16- The dollar strengthened while U.S. and European stocks surged on Friday amid growing expectations the European Central Bank will cut interest rates to stimulate the economy and after China said it plans to boost disposable income to spur consumption. The euro pared some losses...

  • *Argentina's small economy soothes contagion worries. LONDON, Aug 16- Argentina's latest financial market shock has failed to swamp other emerging markets in the way its previous plunges have done- in part due to the increasing isolation of the country's credit and investments from the rest of the pool. This week's jolt initially sparked some debt and equity...