Eurozone

Bond sell-off hits European shares but boost banks

LONDON (Reuters) – European shares pulled back on Wednesday, with most sectors except rate-sensitive banks in the red as concerns grew over the direction of the bond market. The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, January 9, 2018. REUTERS/Staff/Remote Bond yields globally hit multi-month highs following a report that Chinese officials have recommended slowing or halting purchases of U.S. government bonds. The yield on 10-year U.S. Treasury US10YT=RR hit a 10-month…

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UPDATE 1-German yields at highest since Oct ECB meeting as supply cranks up

* Italy, Portugal syndication plans push yields higher * Bank of Japan tweak puts spotlight on central banks * Global growth adds to speculation on bond market * Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds quotes, background) By Abhinav Ramnarayan LONDON, Jan 10 (Reuters) – Germany’s 10-year bond yield hit its highest level since the October European Central Bank meeting when policymakers first announced the extension of its bond-buying scheme, with one trader citing heavy supply as the trigger…

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Eurozone unemployment lowest since 2009 – News – telegram.com

By Pan Pylas, The Associated Press LONDON — Unemployment across the 19-country eurozone fell in November to its lowest level in nearly nine years, official figures showed Tuesday, in the latest sign that the currency bloc’s economy headed into the new year in robust shape. Eurostat, the European Union’s statistics agency, said the jobless rate adjusted for seasonal factors fell to 8.7 percent in November from 8.8 percent the previous month. That’s the lowest rate since January 2009, when the…

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FTSE 100 closes at new peak, eurozone jobless rate hits near nine-year low – as it happened | Business

While the FTSE ummed and ahhed over hitting new highs, the Dow Jones wasn’t as shy, opening at a fresh record peak. The Dow wasn’t that explosive after the bell rang on Wall Street. Yet, a 70 point rise left it tickling 25350, continuing its remarkable, seemingly unending climb. As for the afternoon’s meagre data offerings, just like its non-farm cousin last Friday, the latest JOLTS job openings reading came in below estimates, at 5.88 million compared to the downward…

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Eurozone recovery pushes unemployment to lowest since 2009

LONDON Unemployment across the 19-country eurozone fell in November to its lowest level in nearly nine years, official figures showed Tuesday, in the latest sign that the currency bloc’s economy headed into the new year in robust shape. Eurostat, the European Union’s statistics agency, said the jobless rate adjusted for seasonal factors fell to 8.7 percent in November from 8.8 percent the previous month. That’s the lowest rate since January 2009, when the eurozone was reeling from a deep recession…

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Shares close higher, for fifth day of gains

Here’s NAB’s James Glenn on the building approvals surprise: “Despite concerns around a potential oversupply of dwellings (especially apartments), construction activity may well be rebounding.  • Residential approvals rose the most in Victoria, while Tasmania and WA also increased. Residential approval trends show a rebound in Victoria and NSW holding-up. WA/NT may have bottomed, while QLD has stabilised and SA/Tas are improving.  • The positive trend in non-residential building approvals continued in November, with strength especially apparent lately in areas…

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Dollar Rebounds Against Euro as ECB to Ponder Soft Inflation

The dollar hit a more than one-week high against a basket of other major currencies on Monday, helped by a pullback in the euro as investors took profits after the common currency’s recent rally. The dollar index , which measures the greenback against six rival currencies, was up 0.37 percent at 92.287. The euro slipped 0.47 percent to $1.1972. It had hit a nearly four-month high of $1.2089 on Thursday. “The euro got a little bit over its skies when…

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Stock rally rolls on: best start in 8yrs

World stock markets have hovered close to all-time highs as the best start to a year in eight years showed little sign of running out of steam. The combination of strong global growth and low inflation powered the appetite for risk while stocks opened higher, hitting their highest levels since August 2015, while Asian markets inched towards all-time peaks. Wall Street last week posted its best start to a year in more than a decade; Friday’s US jobs report, while…

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ECB should fix date to end bond purchases – Weidmann

BARCELONA (Reuters) – The European Central Bank should set a date to end its asset-buying programme, the head of Germany’s Bundesbank, Jens Weidmann, told Spanish newspaper El Mundo. Tipped as a potential candidate to succeed ECB President Mario Draghi when his term expires at the end of October 2019, Weidmann is a vocal critic of the bank’s quantitative easing programme. “The prospects for the evolution of prices correspond to a return of inflation to a level sufficient to maintain the…

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Eurozone private sector maintains fast pace in December

The eurozone private sector last month expanded the most since early 2011, driven by a near-record continued expansion of manufacturing and the steepest rise in the service sector. The IHS Markit composite output index rose to 58.1 in December from 57.5 in November. This was the highest reading registered since February 2011, and the headline index has signalled growth for 54 successive months. The services Purchasing Managers’ Index improved to 56.6 from 56.2 in November. At the same time, the…

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Is Angela Merkel’s time as Germany’s leader finally running out?

For a dozen years, Angela Merkel seemingly floated above the laws of political gravity, making her calm and consensual leadership style as much a part of the German landscape as fairytale castles, precision engineering and beer-saturated Octobers. But the early days of her 13th year as Chancellor have been marked by a bracing return to earth. Every political career ends, and Ms Merkel’s finale may be coming faster than just about anyone had predicted. Her rapidly diminishing political stock threatens…

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Germany’s Angela Merkel once seemed invincible. Now her time may be running out.

German Chancellor Angela Merkel is pictured last month after early talks with prospective members of the coalition she is still trying to put together after September elections left the country in political limbo.  (Michael Kappeler/AFP/Getty Images) BERLIN — For a dozen years, Angela Merkel seemingly floated above the laws of political gravity, making her calm and consensual leadership style as much a part of the German landscape as fairy-tale castles, precision engineering and beer-saturated Octobers.  But the early days of…

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World stocks up; U.S. Treasury yields rise despite jobs report

NEW YORK (Reuters) – World stocks continued their strong start to 2018, with both the S&P and Nasdaq posting their best weekly gains in more than a year, while U.S. Treasury yields rose despite a weaker-than-expected U.S. jobs report. MSCI’s gauge of stocks across the globe .MIWD00000PUS gained 0.66 percent, reaching a fresh record high on the day. Throughout the first week of 2018, world shares rose and several benchmarks broke records. With the world’s largest economies all growing healthily…

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Eurozone inflation slowdown undermines hawkish calls to end QE

inflation slowed to 1.4% last month from 1.5%, and the underlying rate unexpectedly failed to rise from a meagre 0.9% A retail store in Rome. With largely synchronised economic growth in the currency bloc, and the ECB now referring to an “expansion” rather than a “recovery”. Frankfurt: European Central Bank policymakers who marked the turn of the year by pushing for an end to crisis-era stimulus measures just got a reminder that they’ll have to wait a while longer for…

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Euro zone inflation falls to 1.4%

Inflation in the euro zone slipped further away from the European Central Bank’s target in December, highlighting the challenge facing the bank as it looks to maintain price rises while winding down its quantitative easing programme this year. Average consumer prices rose 1.4 per cent year on year in December, down from 1.5 per cent in November and in line with consensus forecasts. Volatile energy, food, alcohol and tobacco prices were the main drivers of the decline, with inflation in…

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Wall Street, European shares close up; euro near three-year high

NEW YORK (Reuters) – A handful of stock indexes around the world hit fresh record highs on Thursday, bolstered by upbeat data from the world’s largest economies, while the euro kept near a three-year high and the U.S. dollar fell versus major currencies. MSCI’s gauge of stocks across the globe .MIWD00000PUS broke a record high and was last up 0.79 percent. The ADP National Employment Report on Thursday showed U.S. private employers added 250,000 jobs in December, the biggest monthly…

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