Britain's FTSE 100 index slipped 0.2 percent by midday on Wednesday as weakness in banks outweighed gains in energy stocks buoyed by the firmer crude price. By 1048 GMT the FTSE 100 was down 10.97 points at 4,471.28 after closing 0.8 percent higher at 4,482.25 on Tuesday. The index is up 1.3 percent on the
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President of the Republic of Cyprus Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat are expected to meet again tomorrow in the framework of direct negotiations which began last September with a view to reach a solution in Cyprus and reunify the island. UN Secretary General’s Special Adviser for Cyprus, Alexander Downer, will be
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The Bank of Cyprus Group has completed the securitisation of a mortgage loan portfolio in Greece. This is the first securitisation of a bank incorporated outside Greece using Greek assets, and the objective is to enhance further the Group’s liquidity ratios. The Residential Mortgage Backed Securities, amounting to EUR1 bln, have been issued by Katoikia
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All nine members of the Bank of England's Monetary Policy Committee voted to keep interest rates at a record low of 0.5 percent in May and extend its quantitative easing programme by 50 billion pounds. Minutes of the MPC's May 6 and 7 meeting showed on Wednesday policymakers considered extending their asset-buying programme by the
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Strength in energy and mining stocks, buoyed by firm commodity prices, outweighed falls in banks early on Wednesday, as Britain's FTSE 100 index gained 0.3 percent. By 0803 GMT the FTSE 100 was up 12.03 points at 4,494.28 after closing 0.8 percent higher at 4,482.25 on Tuesday. The index is up 1.3 percent on the
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World stocks rose for the fourth session in a row on Wednesday, despite overnight losses on Wall Street, lifting demand for higher-yielding currencies. European shares climbed to stand nearly 6 percent higher for the month with mining stocks leading the way on higher commodity prices. The commodity-tracking Reuters/Jefferies CRB (.CRB) index is up 8.6 percent
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Bank of Cyprus shares leapt another 11% for the week to a fresh all-time high for the year on Tuesday, taking the gains since the start of the year to 67% and about triple from the all-time low of 1.55 hit in early March. Bank of Cyprus shares ended Tuesday at EUR 4.49, a new
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Japan's Nikkei average rose for a second straight day, climbing 0.6 percent on Wednesday as trading firms surged after a brokerage lifted its rating on the sector, although a firmer yen weighed on exporters like Honda Motor Co. Nissan Motor Co jumped 5 percent after the automaker said orders for its low-emission cars in Japan
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A high-level panel of experts that has been helping to shape President Barack Obama's response to the economic crisis will step into the public view on Wednesday at a meeting to discuss energy issues and job creation. Obama announced the creation of the 16-member Economic Recovery Advisory Board, led by former Federal Reserve Chairman Paul
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Japanese electronics group Toshiba Corp plans to end production of mobile phones in Japan around October to cut costs as demand slumps, the Nikkei business daily said on Wednesday. Toshiba, Japan's No. 6 cellphone maker with a 7 percent market share, will continue to make smartphones in China and outsource production of its other phones,
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