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Stock Market / Finance in Western Europe

  • German Producer Price Inflation Slowest In 7 Months

    GERMANY, 2017/08/22 German producer prices rose at the slowest pace so far this year in July, data from Destatis showed Friday. Producer prices for industrial products advanced 2.3 % year-on-year in July, slightly weaker than the 2.4 % increase seen in June. This was the weakest since December, at the same time as prices gained 1 %. Economists had estimate 2.2 % annual increase.

  • ECB Keeps Markets Guessing On Tapering

    EUROPEAN UNION, 2017/07/21 There was no surprises from the European Central Bank on Thursday as it left its key interest rates and massive stimulus unchanged for an eleventh straight session, and as well kept the forward guidance intact, thus retaining the downward bias on investment purchases. The Governing Council, led by ECB President Mario Draghi, kept all its three interest rates unchanged during the policy session in Frankfurt.

  • Draghi Urges Patience And Persistence On Inflation

    EUROPEAN UNION, 2017/07/21 Though the robust economic expansion provides confidence that euro area inflation will hit the target in next, it is from presently on to show any convincing trend of a pick up, prompting policymakers to delay a review of the massive stimulus until the fall, European Central Bank President Mario Draghi said Thursday. "Headline inflation is dampened by the weakness in energy prices," Draghi said in his introductory statement to the post-decision press conference. "Moreover, measures of underlying inflation remain in general at subdued levels."

  • European Markets Struggle At The End Of The Trading Week

    EUROPEAN UNION, 2017/07/15 The European markets ended Friday's session with mixed results. However, the markets ended the in general trading week with a strong gain, thanks in large part to Wednesday's strong rally. Markets jumped mid-week next Federal Reserve Chair Janet Yellen's comments about gradual policy tightening. The markets were stuck in a sideways pattern throughout Friday's session and ended the day little changed in general. Markets on Wall Street as well traded nearly flat following the release of a large batch of U.S. economic data and earnings from a trio of major banks.

  • The Swiss Stock Market Climbed Despite Weakness Among Financial Stocks

    SWITZERLAND, 2017/07/15 The Swiss stock market ended Friday's session with a modest gain. Next a brief dip into negative territory in the morning, the market remained stuck in a range throughout the day. The index heavyweights provided support to the in general market Friday. However, financial stocks were under pressure next a trio of major U.S. banks reported results.

  • The Death Of The European Banking Union

    EUROPEAN UNION, 2017/07/08 In early June, the failure of the Spanish bank Banco Popular seemed to work smoothly under the new European resolution rules. The relatively new Banking Union seemed to work in achieving its goal to limit moral hazard. Losses were imposed upon junior bondholders and shareholders whereas Spanish taxpayers did not pay a dime. Although there are many defects with the new resolution framework, it seemed to be a step in the right direction. This impression was short lived and died when the Italian government agreed to use €17 billion of taxpayer’s money for two failed banks, Veneto Banca and Banca Popolare di Vicenza, in late June. Thus, Italian senior bondholders will be protected despite the philosophy of the new bail-in framework according which bondholders shoulder losses if a bank fails. Consequently, the two banks’ senior bond prices rose by more than 15% on Monday.

  • The Netherlands: Europe’s Under-The-Radar Tax Haven

    NETHERLAND, 2017/07/08 Dutch NGO Somo has been blowing the whistle on the Netherlands’ tax practices since 1973. So far, to little result. The founding member of the European Union was still the world’s third-ranked tax haven in 2016. “The evidence is piling up,” said Katrin McGauran, clearing a mountain of documents from her desk in an old home just outside the city centre in The Hague. Top of the pile is a document entitled “Fool’s gold”, the case of a gold mine in Greece, run by Canadian mining company Eldorado Gold. “An example to show you the Dutch sandwich,” a lesson in tax optimisation.

  • Eurozone posts lower inflation of 1.4% in May

    EUROPEAN UNION, 2017/06/20 EUROZONE inflation slowed to a lower than expected 1.4 % in May, as volatile energy prices sapped the intended effects of the European Central Bank’s massive stimulus plan, EU data showed yesterday. Eurozone unemployment in April kept an encouraging trend, inching lower to 9.3 %, at its lowest rate since March 2009, Eurostat said. The fall in inflation will provide backing to ECB chief Mario Draghi, who on Monday said the central bank remained “firmly convinced” it must maintain its massive interventions in the eurozone economy to avoid undermining a gathering recovery.

  • Spain’s Basque Country is taking steps to cement links with the UK, the fourth biggest market for its services

    EUROPEAN UNION, 2017/05/11 Spain’s Basque Country is taking steps to cement links with the UK, the fourth biggest market for its services While the UK and Brussels wrangle over hard versus soft Brexits and the nature of next trade deals, Spain’s Basque business development agency, SPRI, has quietly opened an office in London, confident that it will be business as usual. Regardless of whether the UK is in or out of the EU, the Basque Country cannot afford to turn its back on the country that accounted for €1.29bn of its exports in 2016, ranking fourth behind France, Germany and the US.

  • European Shares Seen Up On Trump's Tax Plan Optimism

    EUROPEAN UNION, 2017/05/03 European stocks may open a tad higher on Wednesday amid positive cues from Wall Street and Asia. As the euphoria from Macron's victory fades, investors are presently waiting to see whether U.S. President Donald Trump will stick with his campaign pledge to slash the corporate tax rate from 35 % to 15 %. The White Home is expected to unveil the outlines of the tax plan later today. The European Central Bank meets on Thursday, but no changes to investment purchases or interest rates are expected. It will be interesting to hear President Mario Draghi's comments for any shift in tone. The Bank of Japan is as well expected to keep its policy stance intact at the two-day rate review ending on Thursday.
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