Economy of the European Union

Asian shares rise after ECB rate cut

Agence France-PresseMay 3, 2013 07:00

Asian markets mostly rose on Friday, aided by a European Central Bank interest rate cut aimed at stimulating growth in the sluggish eurozone and a positive US jobless claims report. Seoul closed 0.43 percent, or 8.50 points, higher at 1,965.71, Shanghai ended up 1.44 percent, or 31.38 points, at 2,205.50 and Hong Kong rose 0.10 percent, or 21.66 points, to 22,689.96. Sydney ended flat at 5,129.5, having lost 0.5 points, while Tokyo was closed for a public holiday.

EU economic forecasts

Agence France-PresseMay 3, 2013 06:45

The European Commission issued its latest grim economic forecasts for the 17-nation eurozone and the wider 27-member European Union on Friday. Here are the main figures for this year and next, with the Commission's previous estimates in parentheses. Thus the eurozone economy is expected to shrink 0.4 percent this year compared with the previous forecast for 0.3 percent growth. 2013 2014 GROSS DOMESTIC PRODUCT (PERCENT RATE) EUROZONE minus 0.4 (0.3) 1.2 (1.4) EU-27 minus 0.1 (+0.1) 1.4 (+1.6) GERMANY 0.4 (0.5) 1.8

EU predicts eurozone recession to continue in 2013, key economies set to breach deficit limits

The Canadian PressMay 3, 2013 05:30

BRUSSELS - Europe will take longer to recover from its economic crisis as it tackles a worse-than-expected recession in the eurozone and unemployment at record levels, the European Union warned Friday. In its spring economic forecast, the EU said that gross domestic product in the 17 member countries that use the euro will shrink by 0.4 per cent this year, better than the 0.6 per cent contraction in 2012 but 0.1 percentage points worse than the EU had forecast back in February.

Asian shares rise after ECB rate cut

Agence France-PresseMay 3, 2013 04:45

Asian markets mostly rose on Friday, aided by a European Central Bank interest rate cut aimed at stimulating growth in the sluggish eurozone and a positive US jobless claims report. Seoul closed 0.43 percent, or 8.50 points, higher at 1,965.71, Shanghai ended up 1.44 percent, or 31.38 points, at 2,205.50 and Hong Kong rose 0.10 percent, or 21.66 points, to 22,689.96. Sydney ended flat, losing 0.5 points, at 5,129.5 while Tokyo was closed for a public holiday.

Asian shares rise after ECB rate cut

Agence France-PresseMay 3, 2013 04:15

Asian markets mostly rose on Friday, aided by a European Central Bank interest rate cut aimed at stimulating growth in the sluggish eurozone and a positive US jobless claims report. Seoul closed 0.43 percent, or 8.50 points, higher at 1,965.71 while Sydney ended flat, losing 0.5 points, at 5,129.5. In afternoon trade Shanghai jumped 1.41 percent and Hong Kong gained 0.21 percent. Tokyo was closed for a public holiday.

World stock markets mixed ahead of US government unemployment report for April

The Canadian PressMay 3, 2013 01:45

BANGKOK - World stock markets were mixed Friday as investors held back ahead of the release of the U.S. government's monthly unemployment report. European stock markets were largely flat before the U.S. Labor Department's release of nonfarm payrolls for April. Britain's FTSE 100 rose marginally to 6,464.54. Germany's DAX rose 0.1 per cent to 7,970.94. France's CAC-40 slipped less than 0.1 per cent to 3,857.51. Wall Street futures fell slightly. Dow Jones industrial futures dropped less than 0.1 per cent to 14,749 and S

Majority of Germans still have faith in euro

Agence France-PresseMay 2, 2013 16:45

Germans remain confident in the euro but just over a third would welcome a political party critical of the single currency being in parliament, according to a poll released Friday. Some 76 percent believe the euro will weather the current crisis buffeting the 17-member eurozone and still be around in several years, it showed. The same proportion think the euro is a good idea which was just badly implemented, the ARD survey showed. The poll was conducted on Monday and Tuesday among 1,006 people.

European stocks close higher after ECB rate cut

Agence France-PresseMay 2, 2013 12:15

Europe's main stock markets closed higher on Thursday after the European Central Bank slashed its key rate to a record low, with London's FTSE 100 index of leading companies adding 0.15 percent to 6,460.71 points. In Frankfurt, the DAX 30 rose by 0.61 percent to 7,961.71 points, while in Paris the CAC 40 edged up 0.05 percent to 3,858.76 points. bur-arp/mfp

European stocks fall as ECB cuts rates

Agence France-PresseMay 2, 2013 11:30

Europe's stock markets mostly fell on Thursday and the euro tumbled against the dollar after the European Central Bank cut key rates in its latest effort to lift the eurozone from recession. In afternoon deals just following the rate decision, London's FTSE 100 index of top companies slid 0.21 percent to 6,437.53 points. In Paris the CAC 40 lost 0.21 percent to 3,848.79 points, while Frankfurt's DAX 30 added 0.40 percent to 7,945.15 points as the two markets re-opened following Wednesday's public holiday.

Danish central bank cuts key rate to 0.2%

Agence France-PresseMay 2, 2013 11:30

Denmark's central bank on Thursday cut its key interest rate by 0.1 point to 0.2 percent, it said as it announced its first rate change since January. The rate cut followed a decision by the European Central Bank earlier in the day to cut rates, the central bank said in a statement. Danish monetary policy is aimed at maintaining a stable exchange rate between the Danish krone and the euro.