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Nov 29, 2011

STocks and Markets in the News | Europe Daily - MarketWatch


MarketWatch

Europe Daily
NOVEMBER 29, 2011



Europe stocks end higher after U.S. data
11/29/2011 12:18 PM ET
European stocks rise on Tuesday after data show a strong rise in U.S. consumer confidence and as investors await news from a meeting of euro-zone finance ministers.
 
Treasury 10-year yields top 2%
11/29/2011 12:42 PM ET
Treasury prices decline on better U.S. economic data, while awaiting word from European officials meeting in Brussels. 
 
Slower growth, higher borrowing seen for U.K.
11/29/2011 12:38 PM ET
Britain's Chancellor of the Exchequer George Osborne says Tuesday that the country will not fall into another recession despite downgraded growth projections and higher forecasts for public borrowing.
 
British shares end higher in late bounce
11/29/2011 12:28 PM ET
Britain's benchmark stock index ends in positive territory as a led lower by banks, as new official forecasts show that economic growth will be slower and borrowing higher than expected. 
 
Venizelos: Greece meets conditions for aid release
11/29/2011 12:16 PM ET
FRANKFURT (MarketWatch) -- Greece has met all conditions required for the release of a long-delayed 8 billion euro ($10.7 billion) tranche of aid to the country, as well as for the new bailout program and the plan for private bondholders to take haircuts on Greek debt, Greek Finance Minister Evangelos Venizelos said Tuesday ahead of a meeting of euro-zone finance ministers in Brussels. "We have the necessary political consensus, we have the necessary national unity and also the national commitment and determination to go ahead," Venizelos said in a statement distributed by the Finance Ministry. 
 
Euro pares gains after ECB operation
11/29/2011 12:15 PM ET
The euro firmed but pared earlier gains on Tuesday after the European Central Bank said it didn't fully sterilize its government-bond purchases and the dollar remained soft with investors' attention continuing to focus on Europe. 
 
U.S. stocks up as European ministers meet
11/29/2011 12:11 PM ET
Wall Street advances as European finance ministers look to address the euro area's credit crisis.
 
ECB fails to offset bond buys amid bank stress
11/29/2011 11:27 AM ET
European Central Bank fails to fully offset its purchases of euro-zone government bonds through a weekly money-market operation. 
 
Oil trades higher on hopes of Europe progress
11/29/2011 11:27 AM ET
Crude-oil futures extend gains as U.S. stocks lean higher and Italy completes a bond auction, albeit at sharply higher yields.
 
RIM, Seagate keep techs afloat
11/29/2011 10:54 AM ET
Shares of Research In Motion and Seagate Technology lead the tech sector higher, but shares of LinkedIn and Corning Inc. slide.
 
James Murdoch re-elected as BSkyB chairman
11/29/2011 10:15 AM ET
BOSTON (MarketWatch) -- Shareholders of European broadcaster BSkyB have re-elected James Murdoch as chairman, despite protests that he resign from the board over his alleged association with the News Corp. phone-hacking scandal in Britain, according to an Associated Press report on Tuesday. The AP said that 81% of BSkyB shareholders voted in favor of Murdoch, who also serves as a senior executive and director for News Corp. The media conglomerate, which already holds a 39% stake in BSkyB, was forced to abandon plans to take over BSkyB last July because of political fallout from the scandal. 
 
Dollar, Treasurys stay down after confidence data
11/29/2011 10:13 AM ET
NEW YORK (MarketWatch) -- The U.S. dollar and Treasury prices remained under pressure Tuesday after a gauge of consumer confidence jumped far more than expected this month. Also, the Federal Housing Finance Agency said home prices rose 0.9% on a seasonally adjusted basis in September. The euro [c: cur_eurusd] traded at $1.3335, from $1.3336 before the data and up versus $1.3307 in North American trading late Monday. The dollar index , which measures the performance of the greenback against a basket of six major currencies, traded at 78.988 from 79.236 Monday. Yields on 10-year notes , which move inversely to prices, stayed up 4 basis points to 2.02%.
 
Euro turns down, Treasurys lower after U.S. data
11/29/2011 9:06 AM ET
NEW YORK (MarketWatch) -- The euro gave up gains against the dollar and Treasury prices remained under pressure after the S&P/Case-Shiller 20-city composite home price index showed U.S. home prices fell 0.6% in September. The euro [c: cur_eurusd] turned down to $1.3306, from $1.3337 before the data and $1.3307 in North American trading late Monday. The dollar index , which measures the performance of the greenback against a basket of six major currencies, pared its loss to 79.117 from 78.978 from 79.236 Monday. Yields on 10-year notes , which move inversely to prices, rose 1 basis point to 1.99%.
 
U.S. stock futures up on hope for Europe
11/29/2011 9:05 AM ET
U.S. stock futures rise on Tuesday as hopes remain high that euro-zone officials will take action to tackle the sovereign debt crisis. 
 
Money found in UK may be MF Global's: report
11/29/2011 8:41 AM ET
NEW YORK (MarketWatch) -- Roughly $200 million believed to belong to clients of bankrupt trading firm MF Global has apparently been found at J.P. Morgan Chase & Co. in the U.K., the New York Times reported late Monday night. The report said the money, part of up to about $1 billion of reportedly missing client money, may not be able to be recovered. 
 
Money found in UK may be MF Global's: report
11/29/2011 8:41 AM ET
NEW YORK (MarketWatch) -- Roughly $200 million believed to belong to clients of bankrupt trading firm MF Global has apparently been found at J.P. Morgan Chase & Co. in the U.K., the New York Times reported late Monday night. The report said the money, part of up to about $1 billion of reportedly missing client money, may not be able to be recovered. 
 
OBR sees slower British growth, more borrowing
11/29/2011 8:39 AM ET
FRANKFURT (MarketWatch) -- Britain's independent Office for Budget Responsibility on Tuesday slashed its growth outlook for the U.K. economy and said the government's deficit would shrink more slowly than previously forecast. The OBR now projects 2011 economic growth at 0.9%, down from its March forecast of 1.7%. The outlook for 2012 growth was slashed to 0.7% from 2.5%, while the economy is now expected to expand 2.1% in 2013 versus an earlier estimate of 2.9%. The OBR's latest economic and fiscal outlook sees public sector net borrowing at 8.4% of GDP this year, slightly higher than forecast in March. The OBR expects PSNB to have fallen to 2.9% of GDP by the 2015-16 financial year, versus a March forecast of 1.5%.
U.K.'s Ed Balls: Cutting too far has backfired
11/29/2011 8:31 AM ET
LONDON (MarketWatch) -- Ed Balls, the U.K.'s shadow chancellor, said on Tuesday that Chancellor George Osborne's fiscal plan "has failed colossally," pointing to rising unemployment, flatlining growth and a surge in borrowing. "It's just not working," Balls told Parliament after Osborne presented his Autumn Statement. "Cutting too far and too fast has backfired," he said.
Treasurys slip, eyeing Europe, U.S. data
11/29/2011 8:27 AM ET
NEW YORK (MarketWatch) -- Treasury prices slipped Tuesday, pushing yields up, as traders eye Europe and wait for more important U.S. economic data coming this week. During the session, two reports on U.S. home prices and one on consumer confidence will be released. "Treasurys continue to be held hostage to the dramatic headlines and rumors spilling over from Europe," said David Ader, head of government bond strategy at CRT Capital Group. Yields on 10-year notes , which move inversely to prices, rose 1 basis point to 1.99%. 
 
Hungary central bank hikes key rate by half point
11/29/2011 8:20 AM ET
FRANKFURT (MarketWatch) -- Hungary's central bank on Tuesday raised its base rate by half of a percentage point to 6.5%. The move comes as Hungary attempts to fend off a crisis after Moody's Investors Service last week downgraded the government's bond rating to Ba1 and Budapest began talks with the International Monetry Fund. The euro fetched 308.57 forint, little changed from Monday. The forint has fallen by around 11% versus the euro in the year to date.

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