BNP Paribas Stories
Crisis in Europe Finally Dragging America Down: Economists
The whirlpool created by the European financial crisis is finally dragging American down. That?s the conclusion of some economists, after disappointing manufacturing activity data showed a slight contraction in June.
European Markets Rise On Encouraging Data From Asia
Most European markets rose Monday as investors were encouraged by the hopeful economic indications from Asia and also the measures taken at the EU summit last week.
European Markets Rise On Positive EU Summit Developments
European markets rose Friday following encouraging announcements at the European Union summit in Brussels, where EU leaders are tackling the debt crisis threatening the financial union.
Why Can't Europe's Leaders Figure Out How To Solve the Crisis? BNP Paribas Explains
An eye-catching illustration included in a report by BNP Paribas Exane explains why the Continent's leader seem unable to solve the ever-worsening eurozone crisis: in spite of being ostensibly committed to the same goals, top policy-makers disagree on the more aggressive policies most experts believe are needed. It's almost like they're on different planets.
Moody's to Global Leaders: Stop Threatening Your Banks With Capitalism
Thursday's downgrade contained a veiled threat that pointed at politicians in Germany, the United Kingdom, France and the United States and plainly stated, Stop talking about making the banks responsible for their own follies -- or else.
Moody's Downgrades 5 Big US Banks, 9 European Banks
Moody's Investors Service downgraded 15 global financial institutions Thursday, including five of the largest U.S. banks, nine major European banks and the Royal Bank of Canada (NYSE: RY), a move that could tighten borrowing and require the companies to post billions of additional collateral.
China To Lower Standards For Foreign Investors In National Markets
Chinese market regulators announced Thursday they could be easing the rules that currently allow only a small group of foreign banks to invest in the national equity and bond markets, a move that is seen as part of a wider campaign to open the country's financial system to global competition. Whether by design or by coincidence, however, the move also takes a tremendous amount of pressure off the country's central bankers, who are between a rock and a hard place in deciding whether or n......
Asian Shares Slip, Commodities Down After Fed Action
Asian stocks struggled and commodities fell broadly on Thursday after the Federal Reserve ramped up monetary stimulus by expanding Operation Twist, but disappointed some investors who had been hoping for more aggressive measures.
European Markets Rise On Greek Election Outcome
European markets rose Monday as investor confidence was rejuvenated following the victory of the pro-austerity parties in Sunday's Greek elections.
Britain's Recession Woes Deepen As Exports Slump
Britain's goods trade deficit unexpectedly widened in April as exports plunged, raising the threat of a third quarter of economic contraction and adding urgency to new measures to foster growth as trading partners in the euro zone weaken.
European Markets Rise Amid US Stimulus Measure Hope
European markets rose Wednesday following an overnight rally in the Wall Street amid anticipation that the U.S. Federal Reserve would announce further quantitative easing to support the economy.
Top After Market NYSE Movers (Molina Healthcare, Mitsubishi UFJ, Centene Corp, Cooper Companies, Cooper Companies, Ivanhoe Mines)
The top aftermarket NYSE gainers Thursday were: Molina Healthcare, Centene Corp, Mitsubishi UFJ Financial, Ivanhoe Mines and MGIC Investment Corp. The top aftermarket NYSE losers were: Cooper Companies, Ellie Mae, FleetCor Technologies, Flotek Industries and Chicago Bridge & Iron Co.
French Unions, Hollande Brace For Huge Wave Of Layoffs
Bernard Thibault, the secretary of the Communist-backed Confédération Générale du Travail, one of France's largest unions, warned that at least 45,000 jobs (and maybe as many as 90,000) will be jettisoned by some 46 companies.
Investors Love Rio: Why Foreign Companies Are Buying Into Brazil's Real Economy
Investing in Brazil's booming economy has turned another page as foreign companies, especially Japanese firms, move from putting money into the nation's financial industry to putting it into the real economy of South America's largest nation.
German Growth Rescues Euro From Dive
The euro pulled back from a four-month low against the dollar during Asian trading Tuesday after Germany, the euro zone's largest economy, announced first-quarter GDP growth of 0.5 percent.
Gold Prices Steady In European Trading
Gold steadied in Europe on Thursday after falling to a four-month low in the previous session, as an uptick in the euro after Spain moved to clean up its banks and Europe's bailout fund approved a key payment to Greece took some pressure off prices.
Defeat Looms For Sarkozy As French Vote In High Turnout
French voters turned out in force Sunday in the second round of presidential elections that are likely to make Nicolas Sarkozy the 11th European leader to be swept from office by the economic crisis.
BNP Paribas Q1 Profit Rises 9.6%
French bank BNP Paribas SA (BNP.FR) reported Friday 9.6 percent rise in profits in the first quarter from a year ago, boosted by the sale of more than half of its stake in real estate firm Klepierre.
Gold Prices Retreat Towards $1,660
Gold prices retreated towards $1,650 an ounce on Wednesday as the dollar strengthened against the euro, after a downbeat reading of euro zone manufacturing activity contrasted with stronger data from the United States.
U.K. Manufacturing Nearly Flat As Exports To Eurozone Fall
The British manufacturing sector is approaching negative growth thanks largely to a decline in exports to the troubled eurozone, according to a monthly benchmark index that gauges industrial health released Tuesday.The Markit/CIPS Purchasing Managers' Index (PMI) for the manufacturing sector fell to 50.5 in April, down from 51.9 in March. The report also showed the sharpest decline in new export orders since March 2009.
US Homeownership Rate Drops To 15-Year Low
The share of privately-owned U.S. homes fell to a 15-year low in the first quarter as falling house prices and stringent lending conditions push younger Americans, in particular, into renting.
Bank of Japan Ups Bond Purchasing Program to $867B
The Bank of Japan will expand its Asset Purchase Program by an additional 5 trillion yen ($62 billion) to increase the purchase of Japanese government bonds, exchange-traded funds and Japan real estate investment trusts, the bank announced in a statement Friday.
Palladium Bounces On Demand For Industrial Metals Exposure
Palladium prices are bouncing back from a big decline that started in February in what could be a sign of rising investor confidence in the U.S. recovery, thanks to rising auto sales, and concerns over Russian supplies.
Gold Up Above $1,645/oz As Euro Firms
Gold rose above $1,645 an ounce on Friday as a better-than-expected German business sentiment survey lifted the euro versus the dollar, but trading was light as investors awaited further news on the euro zone crisis and U.S. monetary policy.
European Economic Data Tops Expectations, Boosts Markets
European economic data released on Friday topped analyst expectations, giving a boost to the region's stock markets.
Gold Prices Rise Above $1,645
Gold rose above $1,645 an ounce on Friday as a better-than-expected German business sentiment survey lifted the euro versus the dollar, but trading was light as investors awaited further news on the euro zone crisis and U.S. monetary policy.
Investors seek safety as euro zone debt worries grow
German 10-year bond yields hit record lows on Friday and riskier assets came under pressure on growing fears about the euro zone debt crisis and uncertainty over global growth.
Fed: Growth Slows Among New York Manufacturers
The New York Fed reported on Monday slowing growth within the manufacturing sector in March, with overall sentiments remained positive and employment improved despite difficulty finding highly-skilled labor.
US Consumer Confidence Down On Mixed, Polarized Readings
A preliminary survey of consumer confidence for April shows the lackluster job creation seen in March is playing into people's pessimism more than economists had expected. But a recent, tiny, decline in gasoline prices, following a dizzying climb at the beginning of the year, is at least making consumers feel better about inflation and hence, expectations for the future.
Home prices close to bottoming, to rise in 2013
The relentless decline in home prices is nearing an end and prices should rise for the first time in seven years in 2013, but a possible new wave of foreclosures could threaten the recovery, according a Reuters poll of economists.