News Column

European Shares Rise With Bonds as Ruble Drops on Ukraine

August 29, 2014

NNA - European shares rebounded while bonds in the region climbed and the ruble weakened after its lowest close in 11 years as the conflict between Russia and Ukraine worsened. Industrial metals gained. The Stoxx Europe 600 Index climbed 0.4 percent by 8:22 a.m. in London, rebounding from a 0.7 percent drop yesterday. Futures (SPA) on the Standard & Poor?s 500 Index rose 0.1 percent. Yields on 10-year German, Spanish and Italian notes fell. Russia?s ruble slid 0.5 percent after closing at the weakest since at least 2003 and a gauge of emerging-market currencies headed for its first monthly drop since January. Aluminum led industrial metals higher as gold held near a one-week high. There are currently 20,000 Russian troops near the Ukrainian border, with 1,000 operating inside the former Soviet republic, a North Atlantic Treaty Organization military officer estimated yesterday. The crisis overshadowed a better-than-expected U.S. gross domestic product reading, as America and Europe condemned Russia?s actions. With a gauge of government bonds around the world approaching a record high on speculation the European Central Bank will add to stimulus, the euro area is expected to follow Japan in reporting no change in core price growth today. ==========================

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Source: National News Agency (Lebanon)

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