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12/06/2002
Stock gloom brightens euro trading
The euro has climbed to an 18-month high against the US dollar as concern grows about the state of the US economy.
With US stocks in decline heavy share trading on Tuesday ended with markets again depressed at fears over continued downward profit forecasts and extended lead times for a sustained recovery in the US economy.
However, the euro peaked at 95 cents, up to levels not seen in over a year. The euro has so far gained almost 7% against the US dollar since the start of the year.
While this is good news for European consumers and eurozone inflation figures, the current high-euro low-dollar equation will make exports to dollar-driven economies throughout the world more difficult. This is bad news for exporters and manufacturers based in the eurozone who are already facing competitiveness problems.
The combination of these factors pushed the London FTSE-100 well below 4,900 points on Wednesday.
Analysts pointed to a scenario that was described as the worst possible conditions for the stock market, which is still reeling from recent revelations of dubious accountancy practices in a number of major firms and heightened concerns over further profits revisions in others.
(SP)
With US stocks in decline heavy share trading on Tuesday ended with markets again depressed at fears over continued downward profit forecasts and extended lead times for a sustained recovery in the US economy.
However, the euro peaked at 95 cents, up to levels not seen in over a year. The euro has so far gained almost 7% against the US dollar since the start of the year.
While this is good news for European consumers and eurozone inflation figures, the current high-euro low-dollar equation will make exports to dollar-driven economies throughout the world more difficult. This is bad news for exporters and manufacturers based in the eurozone who are already facing competitiveness problems.
The combination of these factors pushed the London FTSE-100 well below 4,900 points on Wednesday.
Analysts pointed to a scenario that was described as the worst possible conditions for the stock market, which is still reeling from recent revelations of dubious accountancy practices in a number of major firms and heightened concerns over further profits revisions in others.
(SP)
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12 September 2001
Fears of an economic meltdown recede
European stock markets were beginning to show signs of recovering from Tuesday’s plunge triggered by fears that the terrorist attack on the US would lead to a recession.
Fears of an economic meltdown recede
European stock markets were beginning to show signs of recovering from Tuesday’s plunge triggered by fears that the terrorist attack on the US would lead to a recession.
07 September 2001
Global stock markets take further tumble
Although the Nasdaq recovered slightly in afternoon trading thanks to some good news in the technology sector, a higher than expected rise in the US unemployment rate served to reinforced the current downward trend in global stock markets. Official data from the US Department of Labour shows that in the US unemployment jumped to 4.
Global stock markets take further tumble
Although the Nasdaq recovered slightly in afternoon trading thanks to some good news in the technology sector, a higher than expected rise in the US unemployment rate served to reinforced the current downward trend in global stock markets. Official data from the US Department of Labour shows that in the US unemployment jumped to 4.
15 November 2002
Guide shows SMEs how to compete in eurozone
In a move to encourage more small to medium-sized companies to grow faster through a sharper focus on business opportunities in Europe, Invest NI has produced ‘Trading with the Euro’, a new guide to opportunities within the Eurozone. The guide is being distributed to over 1,700 client companies and will be available on the web.
Guide shows SMEs how to compete in eurozone
In a move to encourage more small to medium-sized companies to grow faster through a sharper focus on business opportunities in Europe, Invest NI has produced ‘Trading with the Euro’, a new guide to opportunities within the Eurozone. The guide is being distributed to over 1,700 client companies and will be available on the web.
10 September 2001
Stock markets worldwide in steady decline
Sparking renewed fears of a global recession share prices continued to fall worldwide, as global stock markets remained in the grip of a steady decline that only looks set to intensify.
Stock markets worldwide in steady decline
Sparking renewed fears of a global recession share prices continued to fall worldwide, as global stock markets remained in the grip of a steady decline that only looks set to intensify.
31 August 2001
Dow Jones closes at five-month low
The Dow Jones has closed below the 10,000 level for the first time in nearly five months, at 9963.3. The result was further gloomy news on the economy for US companies and pulled Asian markets down in their stead, exacerbating the trend set by fresh waves of gloomy economic data from Pacific nations.
Dow Jones closes at five-month low
The Dow Jones has closed below the 10,000 level for the first time in nearly five months, at 9963.3. The result was further gloomy news on the economy for US companies and pulled Asian markets down in their stead, exacerbating the trend set by fresh waves of gloomy economic data from Pacific nations.
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Northern Ireland WeatherToday:A rather cloudy start with patchy mainly light rain, but becoming brighter through the day as the rain turns more showery, the best of any sunnier spells in the south. Maximum temperature 16 °C.Tonight:A few bright spells at first and any showers gradually dying out. Low cloud and mist or drizzle over northern coastal parts will spread south to most areas overnight. Minimum temperature 7 °C.
