UK stocks move higher; lenders lead gains

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Source: Dukascopy Bank SA
© Scanpix/AP
UK stocks surged on Monday amid rising optimism over the US budget talks as US President Barack Obama reassured investors that policymakers will manage to agree on the new budget. However, the market sentiment was dampened by looming talks over Greece's bailout. The FTSE 100 Index soared 1.27% to trade at 5,676.63. All but one sector within the index jumped. Technology and financial sectors were the top-performers. Lenders were supported by a surge in HSBC. HSBC advanced by 2.53% on speculation that the bank plans to sell its stake in Ping An Insurance. Barclays and Lloyds Banking Group also joined the rally, climbing 4.36% and 2.27%. Goldman Sachs raised Barclays from ‘neutral' to ‘buy'. Oil and gas firms were also  bullish amid soaring crude oil prices. Crude oil futures for January delivery gained more than 1% during European session. Meanwhile, BP was the top-gainer among energy producers, surging 2.59% on reports that the company plans a multibillion-pound buyback.
UK stocks move higher; lenders lead gain
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Mon, 19 Nov 2012 16:11:07 GMT

German shares rally as US budget concerns ease

German blue chips rallied on Monday as concerns over the US fiscal cliff eased after the US President Barack Obama expressed confidence that he will manage to agree with Congress on the new budget. However, the upswing was capped as talks over the Greek bailout are nearing. The eurozone's finance ministers are due to discuss Greek bailout on November 20.

Mon, 19 Nov 2012 15:48:15 GMT

Hong Kong equities eased up on US optimism

Hong Kong shares inched up on Monday on hopes that US will manage to avert the fiscal cliff. On Friday, US lawmakers announced that they believe they will reach a consensus over looming tax hikes and spending cuts. Moreover, an advance in the energy sector also buoyed risk appetite. The Hang Seng index climbed 0.49% to close at 21,262.06. Eight

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