Asian shares leapt on Wednesday after a jump on Wall Street, with financial and resource stocks leading and shares in Hong Kong shrugging off China's latest move to temper robust lending. The Hang Seng rose 1.7 percent after a long Lunar New Year holiday break, with Chinese banking stocks like Bank of China gaining over
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Stocks rose 1 percent in morning trading on Tuesday as regional manufacturing data and solid corporate earnings fueled investor optimism. Oil and basic materials company shares gave the biggest boost to the S&P 500 index, as the U.S. dollar fell against the euro and helped boost commodity prices. The Dow Jones industrial average (.DJI) gained
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European ministers told Greece on Tuesday it may need to take further steps to bring a swollen debt under control and calm "irrational" financial markets, as wage cuts already announced by Athens sparked another strike. At a European Union meeting, finance ministers from Germany, Austria and Sweden led the charge, with Germany's deputy finance minister
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Greece's debt-laden economy cannot count on tourism to dig it out of recession this year, with the industry forecasting at best minimal growth and at worst a further decline after a deep slump in 2009. Blessed with sun-drenched beaches, paradise islands and stunning monuments, Greece drew some 15 million foreign tourists a year before the
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European shares gained on Tuesday after UK bank Barclays beat profit forecasts, and the euro rose against the dollar with European finance ministers putting pressure on Greece to resolve its fiscal problems. Borrowing costs for Greece and other peripheral euro zone countries rose, however. Oil and metal prices advanced, supported by a weaker U.S. currency,
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Banks drove Britain's top share index higher at midday on Tuesday after Barclays posted 2009 results that beat forecasts, while commodity issues were also in demand, buoyed by firmer metals and oil prices. By 1212 GMT, the FTSE 100 was 31.66 points, or 0.6 percent higher at 5,199.13, after closing up 0.5 percent on Monday.
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Russian President Dmitry Medvedev on Tuesday said he had told Greek Prime Minister George Papandreou to turn to the International Monetary Fund and the World Bank for help. "I have just met with the Greek Prime Minister and I recommended that he turns to the IMF and the World Bank in order to solve the
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British inflation shot further above its 2 percent target in January, though the Bank of England will almost certainly say the jump is temporary when it is forced to explain itself to the government later on Tuesday. The Office for National Statistics said consumer price inflation rose to 3.5 percent year-on-year last month from 2.9
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Stock index futures rose on Tuesday as corporate earnings fueled investors' optimism on their return from a 3-day holiday. But debt issues centered on Greece and other peripheral euro zone countries remains a concern. Barclays Plc (BARC.L) (BCS.N), the second-largest bank in Britain by market value, said it had started the year well after beating
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European shares gained on Tuesday after UK bank Barclays beat profit forecasts, and the euro rose against the dollar as European finance ministers put more pressure on Greece to resolve its fiscal problems. Greek borrowing costs, however, rose. Oil and metal prices advanced, supported by a weaker U.S. currency, while investors showed more appetite for
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