The Malta Independent 16 August 2026, Sunday
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European Stocks stop four days of gains

Malta Independent Saturday, 20 October 2012, 00:00 Last update: about 14 years ago

European stocks fell yesterday, snapping four days of gains, as European Union leaders failed to discuss further aid for Spain, outweighing an agreement to introduce a euro-area banking regulator by the end of next year. US index futures were little changed, while Asian stocks fell.

Bankia SA led lenders lower, falling 6.9% as a gauge of banks contributed most to the Stoxx Europe 600 Index’s drop. Aggreko plc fell 9.6% after it said bad-debt provisions would hurt full-year results. Spectris plc surged 9.5% after it reported a 12% increase in sales last quarter and said it will meet its full-year targets. Carrefour SA advanced 6.8% after it agreed to sell its Colombian unit.

The Stoxx 600 fell 0.4% to 275.21 at 11.07am in London. The gauge is still headed for a weekly gain of 2.2%, its biggest rise since early September.

French President Francois Hollande said leaders didn’t discuss additional assistance for Spain.

Japanese shares rose, with the Nikkei 225 Stock Average recording its biggest weekly gain this year, as machinery makers advanced after manufacturing in the Philadelphia region expanded the first time in six months and the yen weakened against the dollar. The Nikkei 225 Stock Average added 0.2% after falling as much as 0.5%. The gauge gained 5.5% this week, its biggest such rise since December. The broader Topix Index rose 0.3%.

Russian stocks dropped for the first time in four days as oil declined and after Google Inc. reported third-quarter results that missed analyst forecasts.

Oil headed for a second weekly gain in New York after TransCanada Corp. shut its Keystone pipeline for repairs, disrupting crude supplies to the US Midwest.

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