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Tehran (AFP) - 01/12/2018 - 21:33
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Paris (AFP) - 01/12/2018 - 15:43
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Botswana summons US envoy over Trump 'shithole' slur
Berlin (AFP) - 01/12/2018 - 15:12
Germany's Social Democrats party board approves Merkel coalition deal
Washington (AFP) - 01/12/2018 - 15:04
Trump denies saying 'anything derogatory' about Haitians
Washington (AFP) - 01/12/2018 - 15:04
Online shopping pushes US retail sales up 0.4% in December
Addis Ababa (AFP) - 01/12/2018 - 14:51
African Union slams "hurtful, upsetting" Trump remark
Washington (AFP) - 01/12/2018 - 14:39
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Kinshasa (AFP) - 01/12/2018 - 13:59
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US task force to probe Hezbollah 'narcoterror'
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Jerusalem (AFP) - 01/11/2018 - 08:53
Israel approves more than 1,100 new West Bank settlement homes: NGO
Beijing (AFP) - 01/11/2018 - 05:39
China denies report it could halt US bond purchases
New York (AFP) - 01/10/2018 - 22:06
US stocks finish lower, ending streak of records
Washington (AFP) - 01/10/2018 - 21:50
Trump says US could 'conceivably' return to Paris climate deal
Paris (AFP) - 01/10/2018 - 20:57
Jewels worth millions of euros stolen in Paris Ritz armed robbery: police
Quito (AFP) - 01/10/2018 - 18:35
Colombia rebels call for talks after government suspends peace deal
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Trump open to talks between US and N. Korea
Bogota (AFP) - 01/10/2018 - 15:52
Colombia president suspends ceasefire talks over rebel attacks
Washington (AFP) - 01/10/2018 - 15:35
Trump calls US court system 'unfair' after 'Dreamers' ruling
Berlin (AFP) - 01/10/2018 - 14:49
French finance minister urges 'more investments' from Germany
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Myanmar security forces took part in killing 10 Rohingya: army
Beijing (AFP) - 01/10/2018 - 07:50
China orders 184 Airbus A320 planes: France

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African countries demand Trump apology
Washington (AFP) - 01/13/2018 - 00:57
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US stocks end at records again, extending rally
Tehran (AFP) - 01/12/2018 - 21:33
Trump 'desperate' to undermine nuclear deal: Iran's Zarif
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Trump: US will pull out of Iran deal if Europe fails to act
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United Nations (United States) (AFP) - 01/12/2018 - 19:26
UN report finds Iran in violation of Yemen arms embargo
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US envoy retracts 'wrong' claims about Dutch Muslim chaos
Prague (AFP) - 01/12/2018 - 17:47
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White House hails dip in Chinese trade with North Korea
Paris (AFP) - 01/12/2018 - 16:56
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New York (AFP) - 01/12/2018 - 15:47
Facebook shares sink as US stocks add to records
Washington (AFP) - 01/12/2018 - 15:47
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Washington (AFP) - 01/12/2018 - 15:04
Trump denies saying 'anything derogatory' about Haitians
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African Union slams "hurtful, upsetting" Trump remark
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Falling energy prices hold US consumer inflation to 0.1% in December
Kinshasa (AFP) - 01/12/2018 - 13:59
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Trump implies he did not use the term "shithole countries"
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Trump slur to describe Haiti, Africa immigrants 'shocking, racist': UN
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Merkel pledges 'fresh start' for Europe with new government
Berlin (AFP) - 01/12/2018 - 10:13
Germany to cap refugee arrivals at about 200,000 per year: coalition paper
Berlin (AFP) - 01/12/2018 - 10:01
Germany to 'strengthen, reform' eurozone with France: coalition paper
Berlin (AFP) - 01/12/2018 - 09:04
Merkel party, Social Democrats reach 'breakthrough': sources
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Turkey reinstates over 1,800 civil servants after post-coup purges: state media
Beijing (AFP) - 01/12/2018 - 04:47
China's global trade surplus fell in 2017
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S&P pushes Brazil credit rating further into junk to BB-
Paris (AFP) - 01/11/2018 - 23:05
All jewels stolen from Paris's Ritz hotel recovered: source
Paris (AFP) - 01/11/2018 - 22:14
Macron tells Trump it's important to respect Iran nuclear deal
New York (AFP) - 01/11/2018 - 22:06
US stocks finish at all-time highs
Yangon (AFP) - 01/11/2018 - 20:18
Shallow 6.0-magnitude earthquake hits Myanmar: USGS
Quito (AFP) - 01/11/2018 - 17:39
Ecuador grants citizenship to WikiLeaks founder Assange
Nablus (Palestinian Territories) (AFP) - 01/11/2018 - 17:07
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Gaza City (Palestinian Territories) (AFP) - 01/11/2018 - 16:27
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Frankfurt am Main (AFP) - 01/11/2018 - 10:11
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China orders 184 Airbus A320 planes: France

You are here

    News
  
Euro scales 3-year dollar pinnacle on German deal hopes
        13
        Jan
        2018      

					    
					    AFP/File / PHILIPPE HUGUEN
					    The euro hit a three-year dollar high on Friday amid optimism over Germany getting a new government and the ECB ending stimulus earlier than previously expected
				    
The European single currency surged Friday to a three-year peak against the dollar as German Chancellor Angela Merkel moved closer to a new coalition government.
The euro's advance came as most global equity markets pushed higher, with US stocks again surging to fresh records as earnings season got underway amid optimism following tax reform.
Near 2140 GMT, the euro was at $1.22, up 1.4 percent on news that Merkel's conservatives have reached a "breakthrough" deal with Germany's second biggest party, the Social Democrats, toward building a new coalition.
In the all-night negotiations in Berlin, Merkel and her Christian Democrats, Horst Seehofer of her Bavarian allies the CSU, and Social Democrats (SPD) chief Martin Schulz hammered out a 28-page paper that will form the basis for the talks ahead.
The euro "jumped to its highest level in three years as the improving political sentiment in Germany and the upbeat comments from the ECB yesterday are fuelling the rally," said market analyst David Madden at CMC Markets UK.
"Merkel is one of the biggest proponents of the eurozone project, and her ability to remain in power will be key to ensuring stability as we go forward," said IG analyst Joshua Mahony.
European bourses also finished higher, with Frankfurt rising 0.3 percent and Paris 0.5 percent.
In the US, meanwhile, investors continued to aggressively add to stock holdings. All three major US indices finished at records, with the broad-based S&P 500 winning 0.7 percent.
Many analysts believe the market has not yet priced in the higher profits that the corporate tax cut is expected to generate.
"Over time they will have to revise their estimates for earnings higher," said Hugh Johnson of Hugh Johnson Advisors.
Most large technology shares also rose, with Apple, Amazon, Google-parent Alphabet and Microsoft all winning one percent or more.
But Facebook sank 4.5 percent after announcing a plan to update its newsfeed to emphasize posts from friends and family over other content. 
The shift prompted fears it could drive away advertisers if people spend less time on the social network.
 - Key figures around 2140 GMT - 
New York - DOW: UP 0.9 percent at 25,803.19 (close)
New York - S&P 500: UP 0.7 percent at 2,786.24 (close)
New York - Nasdaq: UP 0.7 percent at 7,261.06 (close)
London - FTSE 100: UP 0.2 percent at 7,778.64 points (close)
Frankfurt - DAX 30: UP 0.3 percent at 13,245.03 (close)
Paris - CAC 40: UP 0.5 percent at 5,517.06 (close)
EURO STOXX 50: UP 0.4 percent at 3,607.98
Tokyo - Nikkei 225: DOWN 0.2 percent at 23,653.82 (close)
Hong Kong - Hang Seng: UP 0.9 percent at 31,412.54 (close)
Shanghai - Composite: UP 0.1 percent at 3428.94 (close)
Euro/dollar: UP at $1.2200 from $1.2030 at 2200 GMT Thursday
Pound/dollar: UP at $1.3737 from $1.3537 
Dollar/yen: DOWN at 110.98 yen from 111.29 yen 
Oil - Brent North Sea: UP 61 cents at $69.87 per barrel
Oil - West Texas Intermediate: UP 50 cents at $64.30 per barrel
burs-jmb/hs

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Euro scales 3-year dollar pinnacle on German deal hopes

13 Jan 2018

AFP/File / PHILIPPE HUGUEN The euro hit a three-year dollar high on Friday amid optimism over Germany getting a new government and the ECB ending stimulus earlier than previously expected

The European single currency surged Friday to a three-year peak against the dollar as German Chancellor Angela Merkel moved closer to a new coalition government.

The euro's advance came as most global equity markets pushed higher, with US stocks again surging to fresh records as earnings season got underway amid optimism following tax reform.

Near 2140 GMT, the euro was at $1.22, up 1.4 percent on news that Merkel's conservatives have reached a "breakthrough" deal with Germany's second biggest party, the Social Democrats, toward building a new coalition.

In the all-night negotiations in Berlin, Merkel and her Christian Democrats, Horst Seehofer of her Bavarian allies the CSU, and Social Democrats (SPD) chief Martin Schulz hammered out a 28-page paper that will form the basis for the talks ahead.

The euro "jumped to its highest level in three years as the improving political sentiment in Germany and the upbeat comments from the ECB yesterday are fuelling the rally," said market analyst David Madden at CMC Markets UK.

"Merkel is one of the biggest proponents of the eurozone project, and her ability to remain in power will be key to ensuring stability as we go forward," said IG analyst Joshua Mahony.

European bourses also finished higher, with Frankfurt rising 0.3 percent and Paris 0.5 percent.

In the US, meanwhile, investors continued to aggressively add to stock holdings. All three major US indices finished at records, with the broad-based S&P 500 winning 0.7 percent.

Many analysts believe the market has not yet priced in the higher profits that the corporate tax cut is expected to generate.

"Over time they will have to revise their estimates for earnings higher," said Hugh Johnson of Hugh Johnson Advisors.

Most large technology shares also rose, with Apple, Amazon, Google-parent Alphabet and Microsoft all winning one percent or more.

But Facebook sank 4.5 percent after announcing a plan to update its newsfeed to emphasize posts from friends and family over other content.

The shift prompted fears it could drive away advertisers if people spend less time on the social network.

- Key figures around 2140 GMT -

New York - DOW: UP 0.9 percent at 25,803.19 (close)

New York - S&P 500: UP 0.7 percent at 2,786.24 (close)

New York - Nasdaq: UP 0.7 percent at 7,261.06 (close)

London - FTSE 100: UP 0.2 percent at 7,778.64 points (close)

Frankfurt - DAX 30: UP 0.3 percent at 13,245.03 (close)

Paris - CAC 40: UP 0.5 percent at 5,517.06 (close)

EURO STOXX 50: UP 0.4 percent at 3,607.98

Tokyo - Nikkei 225: DOWN 0.2 percent at 23,653.82 (close)

Hong Kong - Hang Seng: UP 0.9 percent at 31,412.54 (close)

Shanghai - Composite: UP 0.1 percent at 3428.94 (close)

Euro/dollar: UP at $1.2200 from $1.2030 at 2200 GMT Thursday

Pound/dollar: UP at $1.3737 from $1.3537

Dollar/yen: DOWN at 110.98 yen from 111.29 yen

Oil - Brent North Sea: UP 61 cents at $69.87 per barrel

Oil - West Texas Intermediate: UP 50 cents at $64.30 per barrel

burs-jmb/hs

13 Jan 2018

AFP/File / PHILIPPE HUGUEN The euro hit a three-year dollar high on Friday amid optimism over Germany getting a new government and the ECB ending stimulus earlier than previously expected

The European single currency surged Friday to a three-year peak against the dollar as German Chancellor Angela Merkel moved closer to a new coalition government.

The euro's advance came as most global equity markets pushed higher, with US stocks again surging to fresh records as earnings season got underway amid optimism following tax reform.

13 Jan 2018 Euro scales 3-year dollar pinnacle on German deal hopes | AFP.com

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You are here

    News
  
Euro scales 3-year dollar pinnacle on German deal hopes
        13
        Jan
        2018      

					    
					    AFP/File / PHILIPPE HUGUEN
					    The euro hit a three-year dollar high on Friday amid optimism over Germany getting a new government and the ECB ending stimulus earlier than previously expected
				    
The European single currency surged Friday to a three-year peak against the dollar as German Chancellor Angela Merkel moved closer to a new coalition government.
The euro's advance came as most global equity markets pushed higher, with US stocks again surging to fresh records as earnings season got underway amid optimism following tax reform.
Near 2140 GMT, the euro was at $1.22, up 1.4 percent on news that Merkel's conservatives have reached a "breakthrough" deal with Germany's second biggest party, the Social Democrats, toward building a new coalition.
In the all-night negotiations in Berlin, Merkel and her Christian Democrats, Horst Seehofer of her Bavarian allies the CSU, and Social Democrats (SPD) chief Martin Schulz hammered out a 28-page paper that will form the basis for the talks ahead.
The euro "jumped to its highest level in three years as the improving political sentiment in Germany and the upbeat comments from the ECB yesterday are fuelling the rally," said market analyst David Madden at CMC Markets UK.
"Merkel is one of the biggest proponents of the eurozone project, and her ability to remain in power will be key to ensuring stability as we go forward," said IG analyst Joshua Mahony.
European bourses also finished higher, with Frankfurt rising 0.3 percent and Paris 0.5 percent.
In the US, meanwhile, investors continued to aggressively add to stock holdings. All three major US indices finished at records, with the broad-based S&P 500 winning 0.7 percent.
Many analysts believe the market has not yet priced in the higher profits that the corporate tax cut is expected to generate.
"Over time they will have to revise their estimates for earnings higher," said Hugh Johnson of Hugh Johnson Advisors.
Most large technology shares also rose, with Apple, Amazon, Google-parent Alphabet and Microsoft all winning one percent or more.
But Facebook sank 4.5 percent after announcing a plan to update its newsfeed to emphasize posts from friends and family over other content. 
The shift prompted fears it could drive away advertisers if people spend less time on the social network.
 - Key figures around 2140 GMT - 
New York - DOW: UP 0.9 percent at 25,803.19 (close)
New York - S&P 500: UP 0.7 percent at 2,786.24 (close)
New York - Nasdaq: UP 0.7 percent at 7,261.06 (close)
London - FTSE 100: UP 0.2 percent at 7,778.64 points (close)
Frankfurt - DAX 30: UP 0.3 percent at 13,245.03 (close)
Paris - CAC 40: UP 0.5 percent at 5,517.06 (close)
EURO STOXX 50: UP 0.4 percent at 3,607.98
Tokyo - Nikkei 225: DOWN 0.2 percent at 23,653.82 (close)
Hong Kong - Hang Seng: UP 0.9 percent at 31,412.54 (close)
Shanghai - Composite: UP 0.1 percent at 3428.94 (close)
Euro/dollar: UP at $1.2200 from $1.2030 at 2200 GMT Thursday
Pound/dollar: UP at $1.3737 from $1.3537 
Dollar/yen: DOWN at 110.98 yen from 111.29 yen 
Oil - Brent North Sea: UP 61 cents at $69.87 per barrel
Oil - West Texas Intermediate: UP 50 cents at $64.30 per barrel
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