Europe stocks mixed, Japan's Nikkei rises on yen
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 5:07 am, Monday, February 18, 2013
PARIS (AP) — After starting the day in negative territory, Europe's main indexes were mixed around midday as investors cautiously contemplated a further fall in value for the Japanese yen — which sent the benchmark Nikkei index surging more than 2 percent. Traders also had to digest news from the weekend meeting of Group of 20 finance ministers, which avoided upbraiding the government of Japanese Prime Minister Shinzo Abe for introducing measures that would have the knock-on effect of driving down the yen in a bid to help manufacturers. Germany's central bank announced Monday that Europe's biggest economy was on track to avoid a recession as it shows signs of growth in the first three months of the year, reporting greater business optimism and easing fears of the euro-zone debt crisis. In France, Natixis shares soared more than 26 percent to €3.58 after the financial services firm announced a restructuring and plans for a one-time €2 billion, or 65 euro cents a share, distribution to shareholders this year. The yen has been steadily declining since December because of expectations that Japan's central bank would take action resulting in a weakening of the yen. Since the start of the financial crisis, central banks around the world have been trying to stimulate their economies by keeping interest rates extremely low to encourage consumers and businesses to borrow and spend. Reported by SeattlePI.com 14 hours ago.
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 5:07 am, Monday, February 18, 2013
PARIS (AP) — After starting the day in negative territory, Europe's main indexes were mixed around midday as investors cautiously contemplated a further fall in value for the Japanese yen — which sent the benchmark Nikkei index surging more than 2 percent. Traders also had to digest news from the weekend meeting of Group of 20 finance ministers, which avoided upbraiding the government of Japanese Prime Minister Shinzo Abe for introducing measures that would have the knock-on effect of driving down the yen in a bid to help manufacturers. Germany's central bank announced Monday that Europe's biggest economy was on track to avoid a recession as it shows signs of growth in the first three months of the year, reporting greater business optimism and easing fears of the euro-zone debt crisis. In France, Natixis shares soared more than 26 percent to €3.58 after the financial services firm announced a restructuring and plans for a one-time €2 billion, or 65 euro cents a share, distribution to shareholders this year. The yen has been steadily declining since December because of expectations that Japan's central bank would take action resulting in a weakening of the yen. Since the start of the financial crisis, central banks around the world have been trying to stimulate their economies by keeping interest rates extremely low to encourage consumers and businesses to borrow and spend. Reported by SeattlePI.com 14 hours ago.
