|
 The pan-European FTSEurofirst 300 equity index was up 1 percent,
with UBS shares gaining more than 7 percent the bank reported its
highest quarterly profit in nearly five years and said it was in
advanced U.S. talks to settle allegations of foreign-exchange-market
rigging.
Britain's FTSE 100 index was up 0.9 percent after a three-day
weekend and Germany's DAX rose more than 1 percent, helped by
Infineon raising its 2015 outlook.
Greece's debt stand-off with international creditors sent the ATG
benchmark index down 2 percent. Differences over pension and labor
reforms are dogging intensive negotiations as the country's cash
position becomes increasingly critical.
Fears of an imminent crisis pushed up low-rated euro zone bond
yields and the euro eased a little against the U.S. dollar.
"We really do think time is running out over Greece. Everything has
pointed to this being the week in which a deal needs to be done,"
Charles Stanley market analyst Jeremy Batstone-Carr said.
"Greece is having huge difficulties making payments to the IMF, and
the IMF is in no mood to soften its stance."
Data from China, Taiwan and Japan showed factory activity
contracting, while Australia's central bank cut interest rates for
the second time in four months as the region's growth falters in the
face of slowing Chinese demand.
The Shanghai Composite Index fell more than 4 percent, fueled by
media reports of tougher margin requirements by some brokerages.
That added to concerns about market liquidity ahead of new share
listings.
While some questioned the effectiveness of additional central-bank
easing, London nickel hit a five-week high and copper held near a
four-month peak as traders digested the prospect of further monetary
stimulus.
[to top of second column] |
"Whilst China certainly needs to loosen monetary policy further, it
is by no means set to conduct QE (bond-buying) or other
unconventional measures," Jefferies' global equity strategist Sean
Darby said.
In commodities, Brent crude oil futures slipped towards $66 a
barrel, falling from a 2015 high, as Saudi Arabia considered halting
bombing in Yemen to allow the delivery of aid, which eased concerns
about oil supply from the Middle East.
A stronger U.S. dollar also weighed on the dollar-denominated
commodity, while investors waited for data on U.S. commercial crude
inventories later this week for more direction.
Cheaper fuel prices helped airline Lufthansa report improved
first-quarter earnings, though the company said further action was
needed to lower costs. The STOXX Europe 600 travel and leisure index
was up 1.5 percent.
(Reporting by Lionel Laurent)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
