Euro, Asia stocks get fillip from Irish bailout

 SYDNEY: The euro, Asian stocks and commodities jumped in a relief rally on Monday after global financial authorities agreed to save debt-swamped Ireland and protect Europe's wider financial stability.

An agreement from the EU and the IMF to lend Ireland cash to, tackle its banking and budget crisis gave investors a reason to buy back some assets sold off earlier this month.

But investors stayed cautious and gains were moderate, in part because they did not want to risk year-to-date profits, with Europe still saddled with fiscal trouble spots such as Portugal and Spain.

The pan-European FTSEurofirst 300 index of top shares opened up over half a percent.

"There are still a lot of issues in Europe," said Alex Boggis, who heads fund manager Aberdeen's business in Hong Kong. Aberdeen manages around $15 billion in Hong Kong and China.

US stocks pull back

NEW YORK: Stocks fell on Wednesday after concerns grew about Greece’s debt crisis.

The Dow Jones industrials remained just below 11,000 for the third consecutive day. The Dow hasn’t crossed that level in 18 months.

No major economic reports were due out Wednesday, but investors were awaiting the results due in the early afternoon from an auction of 10-year Treasury notes. European markets were lower on concerns about Greece.

Local investors pull out Rs11bn from stock markets

KARACHI: Local investors have divested Rs11 billion from country’s stock markets since January 01, 2010 to date, according to National Clearing Company of Pakistan Ltd (NCCPL).

The local investors were moving from bourses to National Saving Scheme and fix income investment products, stocks brokers said.

‘World recovery not guaranteed in 2010’

Saturday, January 09, 2010
PARIS: The world economy may not emerge out of crisis in 2010 due to “bubbles” created by the huge injections of money used to keep the financial system operating, World Trade Organisation chief Pascal Lamy said on Friday.

“You have to be realistic, it is not guaranteed,” the WTO director general said on French radio when asked whether the world economy would recover in 2010.

World stocks rebound in 2009 but 2010 uncertain

Saturday, January 02, 2010
PARIS: After a dismal 2008, world stock markets recorded a spectacular rebound in 2009 even though the economy was in crisis, but confidence had not been completely restored and there were fears for 2010.

In Frankfurt, the market ended the year 23 per cent higher and in Paris it closed 22.32 per cent up. London registered a 22.07 per cent gain for the year and the Dow Jones, the star index of the New York Stock Exchange, showed an annual jump of 18.82 per cent over the course of the year.

World stocks mixed as debt worries linger

LONDON: World stock markets lacked direction Thursday as worsening government finances in the West and weak economic figures in Japan continued to shake investors’ confidence in a global recovery.
 
In morning trading in Europe, Britain’s FTSE 100 was 0.2 per cent higher at 5,213.72, Germany’s DAX rose 0.3 per cent to 5,664.64 and France’s CAC 40 dropped 0.7 per cent to 3,757.39.

In Asia, Tokyo’s benchmark Nikkei 225 stock average fell 1.4 per cent to 9,862.82. Hong Kong’s Hang Seng retreated 0.2 per cent to 21,700.04, while South Korea’s Kospi rose 1.1 per cent to 1,652.73.