Eurozone

EU Summit closes with agreement on Brexit trade talks and eurozone reform

As the EU summit wrapped up in Brussels, some good news for Britain’s Theresa May: Her 27 European colleagues agreed that Brexit divorce talks have made enough progress to move negotiations to phase two. That’s when the discussion can widen to include the transition phase and – eventually – a framework for trade deals. Donald Tusk, President of the European Council said: “It is now time for internal EU 27 preparations and exploratory contacts with the UK to get more…

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New moves to strengthen the euro zone

… that measure, things in the euro zone are looking remarkably bright. With … sneeze. Three things saved the euro zone from destruction in 2011-12: a … , barely rippled elsewhere in the euro zone. Yet no one denies that … better occasion to boost the euro zone’s defences? There are plenty … Source link

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Merkel, Macron aim for eurozone plan by March

The leaders of Germany and France have announced they are aiming to develop a common vision until March to strengthen the eurozone, APA reports quoting AA.   Speaking at a joint news conference in Brussels on Friday with the German Chancellor, French President Emmanuel Macron said they agreed on a number of issues to boost the eurozone.   “In the months to come, we will have a political and strategic discussion as to what we want to do within five…

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France and Germany to unveil eurozone reforms by March

Germany and France will offer their joint vision for reforming the eurozone by March, German Chancellor Angela Merkel said on Friday, in an effort to bridge divisions over the future of the single currency. Meeting without departure-bound Britain, the bloc’s 27 leaders were tasked by EU President Donald Tusk to speak freely about their often clashing visions for the single currency’s future at a summit widely expected to be dominated by Brexit. Overhauling the eurozone and making it more resilient to economic shocks has…

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EU sets bank union, ESM as euro zone overhaul priorities

BRUSSELS (Reuters) – European Union leaders on Friday set the completion of a banking union and expansion of the role of the euro zone bailout fund as priorities for euro zone integration, putting off contentious issues such as a budget for the currency area. “In the next six months, the work of our finance ministers should concentrate on areas where the convergence of views is the biggest,” summit chairman Donald Tusk told reporters after a summit of the 27 countries…

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EU leaders split on Macron-inspired eurozone overhaul

EU leaders will wrangle over ways to forge a stronger eurozone on Friday, with hopes of sweeping reforms dashed by political limbo in Germany and waning interest. Meeting without departure-bound Britain, the bloc’s 27 leaders have been tasked by EU President Donald Tusk to speak freely about their often clashing visions for the single currency’s future at a summit widely expected to be dominated by Brexit. Overhauling the eurozone and making it more resilient to economic shocks has been a…

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Eurozone economy to grow at faster rate, says central bank

By Own Correspondent ECB president Mario Draghi said inflationary pressures remained “muted” THE European Central Bank (ECB) has lifted its economic growth forecasts as growth across the eurozone picks up. It now expects the eurozone’s economy to grow 2.4% this year, ahead of its previous guidance of 2.2%. The bank also kept its main interest rate at zero and confirmed its asset purchase programme would drop from €60bn to €30bn a month in January. ECB president Mario Draghi said: “We…

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UPDATE 2-Poland’s BZ WBK closes in on No.2 bank spot with Deutsche deal

* BZ WBK agrees to buy Deutsche assets for 1.29 bln zlotys * To pay 80 percent in shares, rest in cash * Deal closes gap on No.2 Polish bank Pekao (Adds new more details, market reaction and quotes) By Marcin Goclowski WARSAW, Dec 14 (Reuters) – Poland’s Bank Zachodni WBK agreed on Thursday to buy local assets from Deutsche Bank for 1.29 billion zlotys ($362 million) to close the gap on the country’s No.2 lender Bank Pekao. In November,…

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GRAINS-Wheat extends gains into second session, hits…

By Reuters Published: 21:07 EST, 13 December 2017 | Updated: 21:07 EST, 13 December 2017 SYDNEY, Dec 14 (Reuters) – U.S. wheat futures rose for a second consecutive session on Thursday to hit a six-day high, though gains were capped amid bumper global supplies. FUNDAMENTALS * The most active wheat futures on the Chicago Board Of Trade were up 0.4 percent to $4.18-1/2 a bushel, as of 0152 GMT, near the session high of $4.19 a bushel, the highest since…

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Asia stocks edge higher after Fed meeting; dollar, US yields sag

Business Asian stocks edged higher on Thursday after the Federal Reserve delivered a much-anticipated interest rate hike but flagged caution about inflation, tempering expectations for future tightening, which weighed on the dollar and Treasury yields. FILE PHOTO – Investors look at computer screens showing stock information at a brokerage house in Shanghai, China November 24, 2017. REUTERS/Aly Song 14 Dec 2017 08:55AM(Updated: 14 Dec 2017 09:00AM) Bookmark TOKYO: Asian stocks edged higher on Thursday after the Federal Reserve delivered a…

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Eurozone Industrial Production Rebounds Unexpectedly In October

Eurozone industrial production increased unexpectedly in October, after falling in the previous month, data from Eurostat showed Wednesday. Industrial production rose a seasonally adjusted 0.2 percent month-on-month in October, reversing September’s 0.5 percent fall, which was revised from a 0.6 percent decline reported earlier. Meanwhile, economists had expected production to remain flat during October. Among components, production of non-durable consumer goods advanced 0.5 percent and energy output edged up by 0.1 percent. At the same time, durable consumer goods output…

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Copper largely steady ahead of expected U.S. rate hike

By Reuters Published: 22:02 EST, 12 December 2017 | Updated: 22:02 EST, 12 December 2017 MELBOURNE, Dec 13 (Reuters) – London copper trading was little changed on Wednesday, as volumes thinned throughout the complex in the lead-up to holidays and ahead of a U.S. monetary policy meeting which may spell out higher interest rates. FUNDAMENTALS * LME: London Metal Exchange copper was up 0.1 percent at $6,666.50 a tonne, as of 0247 GMT, having closed little changed in the previous…

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GRAINS-Soybean prices rise, rebound from lowest in…

By Reuters Published: 21:52 EST, 12 December 2017 | Updated: 21:52 EST, 12 December 2017 SYDNEY, Dec 13 (Reuters) – U.S. soybean prices climbed for the first time in six sessions on Wednesday to edge away from their lowest in nearly a month, though gains were checked by ample global supply. FUNDAMENTALS * The most active Chicago Board of Trade March soybeans were up 0.3 percent at $9.78-1/4 a bushel by 0220 GMT. They closed down 0.7 percent on Tuesday,…

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M&A boom dominates Europe share trading as oil leads gains

LONDON/MILAN (Reuters) – Mergers and acquisitions dominated European share trading on Tuesday, while strength in oil stocks after a pipeline shutdown helped lift a key regional benchmark index to five-week highs. The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, December 5, 2017. REUTERS/Staff/Remote The pan-European STOXX 600 index climbed 0.7 percent to its highest level since Nov. 9, while euro zone blue chip stocks rose 0.4 percent, helped by a late drop…

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UPDATE 5-Europe’s Unibail-Rodamco bids $16 bln for Westfield in global shift – Finance News

* Unibail-Rodamco offers $7.55 a share, 18 pct premium * Westfield recommends “highly compelling” bid * Lowy says retail pressures, global consolidation a factor * Westfield owns 35 shopping centres in UK, U.S. (Updates with details from analyst conference call) By Byron Kaye and Sonali Paul SYDNEY/MELBOURNE Dec 12 (Reuters) – Unibail-Rodamco, Europe’s biggest property group, has agreed to buy shopping mall owner Westfield Corp for $16 billion, marking the biggest takeover of an Australian company and a shift in…

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M&A dominates Europe share trading; weak banks offset…

By Reuters Published: 03:46 EST, 12 December 2017 | Updated: 03:46 EST, 12 December 2017 LONDON, Dec 12 (Reuters) – Mergers and acquisitions dominated early European share trading on Tuesday, while strong oil and tech stocks were not enough to offset a decline in banks. French tech consultancy Atos’s 4.3 billion euro takeover offer for Dutch cybersecurity company Gemalto helped the tech sector outperform. Gemalto’s shares rocketed 34 percent to 45.2 euros – just below the bid price. Gemalto´s board…

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