European stocks advanced after euro- region finance ministers eased the terms of aid for Greece and cleared the way for a loan instalment in December.
European finance ministers eased the terms on emergency aid for the Mediterranean nation. In the latest bid to keep the 17- nation euro-area intact, the ministers cut the rates on bailout loans, suspended interest payments for a decade on money from the temporary rescue fund, gave the country more time to repay, and engineered a Greek bond buyback. Greece was also cleared to get a 34.4 billion-euro ($44.7 billion) loan instalment in December.
In the U.K., consumer spending and exports propelled the economy to its fastest growth since 2007 in the third quarter. Gross domestic product rose 1 percent from the second quarter, the same as reported on Oct. 25, the Office for National Statistics said today in London.
National benchmark indexes rose in 13 of the 18 western European markets. France’s CAC 40 Index was little changed, while Germany’s DAX Index rose 0.6 percent. The U.K.’s FTSE 100 Index gained 0.2 percent.
Remy Cointreau surged 6.4 percent to 88.51 euros for the biggest gain in the Stoxx 600. The company said first-half adjusted operating profit from current operations rose to 141.5 million euros, beating analyst estimates for 137.3 million euros. Remy Cointreau said second-half growth will be more moderate than in the first half. Still, it confirmed its target to “substantially” lift annual earnings.
Galp lost 5.9 percent to 11.50 euros. Eni said late yesterday that it’s selling 49.8 million Galp shares. They are being offered at 11.48 euros to 11.73 euros apiece, according to the terms obtained.
U.S. stock-index futures were little changed as euro-area finance ministers eased terms on loans to Greece and investors awaited a report on consumer confidence.
Global Stocks:
Nikkei 9,423.3 +34.36 +0.37%
Hang Seng 21,844.03 -17.78 -0.08%
Shanghai Composite 1,991.17 -26.30 -1.30%
FTSE 5,803.32 +16.60 +0.29%
CAC 3,503.77 +2.83 +0.08%
DAX 7,326.38 +34.35 +0.47%
Crude oil $87.92 +0.21%
Gold $1748.70 -0.05%
Stock market indices in Europe are rising against the decision taken at a meeting of the Eurogroup on the allocation of the next tranche of financial aid to Greece. Enumeration of international aid could begin in December. It was decided to transfer 43.7 billion euros. The final decision on the order of allocation of funds to Greece, according to the international program of anti-crisis assistance will be taken at a meeting of the Eurogroup on 13 December.
To date:
FTSE 100 5,806.82 +20.10 +0.35%
CAC 40 3,508.25 +7.31 +0.21%
DAX 7,324.8 +32.77 +0.45%
Carrefour SA shares rose 1.1% after the announcement of the plan to open hypermarkets in China next year. Quotes Remy Cointreau rose by 6.5% after the first half operating profit, the data of which were better than expected.
SBM Offshore NV capitalization increased by 4.5%, Galp Energia SGPS SA fell 5.9%.
Shares of Royal Bank of Scotland Group Plc rose 3.7% after the improvement of the investment ratings of its securities UBS from "neutral" to "buy."
Asian stocks gained for a fifth day after European finance ministers cut borrowing costs for Greece and gave the indebted nation more time to repay rescue loans. Shares also rose after profit growth at Chinese industrial companies accelerated last month.
Nikkei 225 9,423.3 +34.36 +0.37%
S&P/ASX 200 4,456.83 +32.64 +0.74%
Shanghai Composite 1,991.17 -26.30 -1.30%
CSL Ltd., Australia’s biggest drugmaker, surged 6.9 percent in Sydney to a record after saying it expects profit growth of about 20 percent.
BHP Billiton Ltd., the world’s largest mining company, paced gains among raw-material companies as copper prices rose.
China Railway Construction Corporation Ltd. advanced 1.1 percent in Hong Kong.
Asian stocks rose, with the benchmark regional gauge heading for its longest streak of gains in two months, as a weakening yen boosted the earnings outlook for Japanese exporters and U.S. consumer spending jumped during the Thanksgiving weekend.
Nikkei 225 9,388.94 +22.14 +0.24%
S&P/ASX 200 4,424.19 +11.18 +0.25%
Shanghai Composite 2,017.46 -9.92 -0.49%
Toyota Motor Corp., Asia’s largest carmaker, advanced 1.7 percent as the yen declined to a seven-month low against the dollar.
Kangwon Land Inc. surged 13 percent in Seoul after the government approved plans for the casino and hotel operator to expand.
Samsung Electronics Co. lost 2.3 percent, after closing at a record high in Seoul on Nov. 23, as Apple Inc. sought to add infringement claims over six more Samsung products to its multi-billion-dollar patent lawsuit against the company.
European stocks declined, following the benchmark Stoxx Europe 600 Index’s biggest weekly rally this year, as euro-area finance ministers met for a third time this month on Greece’s finances.
Euro-area finance ministers meet in Brussels to try to clear the next installment of Greek aid and discuss ways to keep the country a solvent member of the currency bloc. They failed to reach agreement in two previous meetings this month.
Pro-independence parties in the Spanish region of Catalonia won a vote, strengthening a drive for a referendum on secession in defiance of Prime Minister Mariano Rajoy.
Catalan President Artur Mas, who called early elections to force a debate on independence, lost a fifth of the seats his Convergencia i Unio party held previously. Mas’s losses showed he will have to depend on anti-austerity separatists to govern Spain’s largest regional economy.
National benchmark indexes fell in 16 of the 18 western European markets. France’s CAC slid 0.8 percent, Germany’s DAX dropped 0.2 percent and the U.K.’s FTSE 100 lost 0.6 percent.
Barclays fell 5.4 percent to 240.5 pence, the sharpest decrease since June 28. Qatar Holding LLC sold the last of the Barclays warrants it acquired during the financial crisis, triggering a 771 million-pound ($1.24 billion) stock offering by the banks that arranged the transaction. Deutsche Bank AG and Goldman Sachs Group Inc. sold as many as 303.3 million shares in the British bank to money managers for 244 pence apiece, the bottom of the 244 pence to 248 pence range used to canvas investor interest in the stock.
ThyssenKrupp, Germany’s largest steelmaker, dropped 5.1 percent to 15.93 euros, the biggest slump since March 6. The sale of its Americas unit has been delayed until September 2013, Financial Times Deutschland reported, following a similar report by Sueddeutsche Zeitung last week. Separately, the stock was downgraded to neutral from outperform at Credit Suisse. An outperform rating is similar to a buy recommendation.
Lafarge SA, the world’s biggest cement maker, lost 2.4 percent to 43.61 euros amid political instability in Egypt. The company gets almost a fourth of its revenue from the Middle East and Africa.
Straumann added 2.3 percent to 107.90 Swiss francs, rallying for a seventh day. Singapore’s GIC bought a 10 percent stake in the company from Vice Chairman Thomas Straumann, becoming the second-largest shareholder.
Dow 12,967.37 -42.31 -0.33%
Nasdaq 2,976.78 +9.93 +0.33%
S&P 500 1,406.29 -2.86 -0.20%Change % Change Last
Nikkei 225 9,388.94 +22.14 +0.24%
S&P/ASX 200 4,424.19 +11.18 +0.25%
Shanghai Composite 2,017.46 -9.92 -0.49%
FTSE 100 5,819.14 +28.11 +0.49%
CAC 40 3,528 +30.58 +0.87%
DAX 7,309.13 +64.14 +0.89%
Dow 12,967.37 -42.31 -0.33%
Nasdaq 2,976.78 +9.93 +0.33%
S&P 500 1,406.29 -2.86 -0.20%
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