King and Crown Prince offer condolence to Iranian president over the deadly port explosion    stc reports strong first-quarter 2025 results with 11% rise in net profit    Virgin Atlantic celebrates one month of nonstop service between London and Riyadh    Saudi Awwal Bank records SR2.1 billion net profit after zakat and income tax for 1Q25    Mahmoud Abbas appoints Hussein Al-Sheikh as PLO vice president in key succession move    Saudi Arabia's entertainment sector attracts 76 million visitors in 2024    Third round of US-Iran nuclear talks concludes with cautious optimism    Multiple casualties reported after vehicle drives into crowd at Vancouver street festival    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi Arabia offers condolences to Iran following deadly Bandar Abbas port explosion    Saudi Arabia deports 12,866 illegal residents in a week    SFDA clears first 44-ton medical shipment for Hajj pilgrims    Ministry of Hajj issued over 150,000 Nusuk cards for the Hajj of 2025    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Average life expectancy in Saudi Arabia rises to78.8 years    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



European Markets Close Lower on Rising Bond Yields, Inflation
Published in Saudi Press Agency on 06 - 03 - 2021

European stocks ended lower yesterday, weighed down by rising US bond yields and concerns over
inflation, dpa reported.
The markets were also weighed down by US Federal Reserve Chairman Jerome Powell's comments on Thursday that reopening of the economy will likely create some upward pressure on prices and that the central bank will be "patient" for now with regard to policy action even there is a transitory increase in inflation.
The pan European Stoxx 600 ended down 0.78 per cent. Britain's FTSE 100 declined 0.31 per cent, Germany's DAX slid 0.97 per cent, France's CAC 40 shed 0.82 per cent and Switzerland's SMI ended 1.32 per cent down. Despite today's losses, the CAC 40, DAX and the FTSE 100 gained 1.5 per cent, 1 per cent and 2.5 per cent, respectively this week. Among other markets in Europe, Belgium, Denmark, Finalnd, Iceland, Ireland, Netherlands, Poland, Spain, Sweden and Ukraine ended weak. The Czech Republic, Greece, Norway, Portugal and Russia closed higher, while Austria ended flat.
In economic news, data from Destatis showed factory orders in Germany expanded 1.4 per cent month-on-month in January, reversing a revised 2.2-per-cent fall in the previous month. Orders were forecast to climb 0.7 per cent. France's trade deficit widened to 3.94 billion euros (4.69 billion dollars) from 3.57 billion euros in December, data from the customs office showed. In the same period last year, the shortfall was 5.23 billion euros. Exports grew 2.8 per cent on month and imports climbed 3.5 per cent in January from the previous month. On a yearly basis, exports and imports decreased 4.8 per cent and 6 per cent, respectively.
British house prices dropped for the second straight month in February, data released by the Lloyds Bank subsidiary Halifax and IHS Markit showed. House prices fell 0.1 per cent sequentially, slower than the 0.4-per-cent decline seen in January. The current national lockdown continued to weigh on hiring decisions in February, the latest KPMG and REC Report on Jobs revealed Friday. Permanent job placements fell for the second consecutive month, albeit at a softer pace than in January. At the same time, growth in temp billings eased to a seven-month low. In news from the US, a report from the Labor Department sid non-farm payroll employment jumped by 379,000 jobs in February after climbing by an upwardly revised 166,000 jobs in January. Economists had expected employment to increase by 182,000 jobs compared to the uptick of 49,000 jobs originally reported for the previous month. The unemployment rate unexpectedly edged down to 6.2 per cent in February from 6.3 percent in January. Economists had expected the unemployment rate to remain unchanged.


Clic here to read the story from its source.