Eurozone

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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LIVE MARKETS-The upbeat mood spreads to Wall St as European stocks rally – Finance News

* European stocks rise, FTSE touches record * Euro zone services PMIs show growth near best in 7 years * Heavily-shorted Debenhams sinks after profit warning * Autos cruise to two-month peak Jan 4 (Reuters) – Welcome to the home for real time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net THE UPBEAT MOOD SPREADS TO WALL ST…

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UPDATE 1-ECB slashes credit purchases to record low in December

(Adds country data, details) By Francesco Canepa FRANKFURT, Jan 3 (Reuters) – The European Central Bank’s purchases of corporate bonds slowed last month to their lowest level since it started buying company debt almost two years ago, data showed on Wednesday. The ECB has been buying government bonds since 2015, in an effort to boost inflation in the euro zone, and added credit to the programme a year later. It is widely expected to wind down the programme this year,…

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Markets Start New Year on High Note — AMD, INCY, AAP, WFT, VRSN — Investing Daily

As January gets underway, it’s worth remembering that the month is named for the Roman god Janus. In ancient Roman myth, Janus is the god of beginnings and endings. He is depicted as having two faces, because he looks to the future and to the past. The first trading day of the year reflected this duality. Traders on Tuesday looked simultaneously to the past year and the year to come — and they liked both views. Major stock indices closed…

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Greek manufacturing expands in December, orders growth…

By Reuters Published: 04:04 EST, 2 January 2018 | Updated: 04:04 EST, 2 January 2018 ATHENS, Jan 2 (Reuters) – Greek manufacturing activity kept expanding in December as new orders grew at the fastest pace in over nine years, leading firms to increase hiring and production, a survey showed on Tuesday. Markit’s Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about 10 percent of the economy, rose to 53.1 from 52.2 in November. It was the seventh straight month…

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Dollar Steady In Early Asia Ahead OF Caixin Manufacturing PMI By Investing.com

Dollar steady in Asia Investing.com – The dollar drifted was flat against the yen in early Asia on Tuesday as markets returned from a long holiday weekend across most of the region, but with Tokyo closed. changed hands at 112.67, while traded at 0.7805, also flat ahead of a closely-watched survey from China. The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down 0.38% at 91.99. In Asia, the for December…

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NZ Herald editorial: Hopes are high for a sparkling year

A new year always dawns with hope. The sun seems brighter, the air fresher, the possibilities endless, all because the date ends in a new digit – 2018, what will it bring? One of the few certainties is that it will bring an end to the centenary of World War I. But Armistice Day is still nearly a year away and it is as well to remember that at New Year 1918, people still had no idea when the carnage…

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ECB’s Coeure sees “reasonable chance” bond buys will…

By Reuters Published: 06:08 EST, 30 December 2017 | Updated: 06:08 EST, 30 December 2017 FRANKFURT, Dec 30 (Reuters) – The man in charge of carrying out the European Central Bank’s bond purchases sees “a reasonable chance” the 2.55 trillion euros stimulus programme will not be extended again when it expires in September, he told a Chinese financial magazine. Benoit Coeure, the ECB board member in charge of its market operations, was once a key supporter of President Mario Draghi’s…

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RBF: Favourable global prospects – Fiji Times Online

Update: 3:37PM FIJI’S global economic prospects in the near-term remain favourable supported by an improved outlook for advanced and emerging market economies, says the Reserve Bank of Fiji. In its economic review for the month ended December this year, the central bank said for the country’s major trading partners, a rebound in government investment in the United States (US) propelled growth in the third quarter, while expansion in manufacturing and services output contributed to firmer growth in the Euro zone economy. …

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Italy’s Berlusconi says election fight pits his group against 5-Star

ROME (Reuters) – Italy’s election in March pits the center-right group against the anti-establishment 5-Star Movement because the ruling left-wing party lags in polls under the country’s third prime minister since the last election, center-right leader Silvio Berlusconi said on Friday. Polls suggest no one will win an outright victory but an alliance around Berlusconi’s Forza Italia (Go Italy!) looks set to take the highest number of seats. On Thursday, the government of Prime Minister Paolo Gentiloni set March 4…

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Goodbye to AIB and hello again to a ghost of Christmas past

It was a year when Ireland said goodbye to a significant stake in AIB and to the chief executive of Bank of Ireland. And, before 2017 was out, taxpayers said hello again to a ghost of Christmas past. From the outset the clear focus was on AIB, which had required a €20.8 billion bailout. The bank’s announcement that it posted a €1.7 billion full-year profit before tax in 2016 and declaration of a €250 million dividend, its first since 2008,…

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Dollar stuck near one-month low, commodity currencies buoyant

TOKYO (Reuters) – The dollar wallowed near a one-month low against a basket of currencies on Friday, while commodity currencies such as the Australian and Canadian dollars were at two-month highs thanks to firmer energy and metals prices. The dollar index against a basket of six major currencies .DXY was unchanged at 92.602 after slipping 0.4 percent overnight to 92.573, its lowest since Nov. 27. The index was on track to lose 0.5 percent this month. Shin Kadota, senior strategist…

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European chipmakers tumble on iPhone demand scare; miners rally

MILAN/PARIS (Reuters) – European tech stocks tumbled on Wednesday as the region emerged from a two-day trading holiday and investors reacted to reports that demand for Apple’s iPhone X may be weaker than expected. The pan-European STOXX 600 inched 0.1 percent higher, as the downturn in the high-performing tech sector was slightly outweighed by strong mining and oil stocks. Euro zone blue chips .STOXX50E ended flat, with the index slightly down on the month and set for its second straight…

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Oil, metals rally supports Asian stocks, dollar steady

SYDNEY (Reuters) – Oil prices were supported around a 2-1/2 year top on Wednesday after an explosion of a Libyan crude pipeline sparked supply fears while gold and copper hovered near multi-week highs, boosting commodity- and energy-linked shares around Asia. Trading was generally thin across the board in a holiday-shortened week. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent to the highest since late November. For the year so far, the index has added 31.6 percent.…

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Catalan separatists win vote, thwarting Rajoy’s bid to solve crisis | World

Catalan separatists win vote, thwarting Rajoy’s bid to solve crisis BARCELONA/MADRID: Separatists looked set on Friday to regain power in Catalonia after voters rejected Spanish Prime Minister Mariano Rajoy´s attempt to defuse the independence movement, instead re-igniting the country´s biggest political crisis in decades. Spanish markets recoiled at a surprise result that is also a setback for the European Union, which must now brace for more secessionist noise as it grapples with the disruption of Brexit and simmering east European…

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