The euro fell to a three-month low after Socialist Francois Hollande was elected president of France and as Greek voters flocked to anti-bailout parties, stoking concern austerity efforts in Europe may be derailed.
The 17-nation currency slid for a sixth day, its longest series of losses since September 2011, after German Chancellor Angela Merkel’s party had its worst election result in more than half a century in the state of Schleswig-Holstein. The yen and the dollar rose versus most of their major peers as Asian stocks extended a global rout, boosting demand for haven currencies.
“There are major concerns about the euro,” said Marito Ueda, senior managing director in Tokyo at FX Prime Corp. (8711), a currency margin company. “What’s common to both Greek and French voting is that people aren’t feeling good about austerity measures, which are the crux to a resolution of Europe’s debt problems.”
Zain Bahrain net profit up 24.3 per cent
Bahrain Bourse-listed Zain Bahrain yesterday reported an increase of 24.3 per cent in net profit at BD5.147 million ($13.616m) for the year ended December 31 when compared with BD4.142m in 2014. <
Bahrain showcase for global firms
Leading industrial firms from across the globe are showcasing their products at this year’s Gulf Industry Fair (GIF), the specialist business-to-business industrial show in the Northern Gulf region,
MSM remains region’s best performing bourse
The Muscat Securities Market continues to be the best performing bourse in the region amid correction trend seen in other markets. MSM has shed just 0.14 per cent, as of Monday’s closing, since the s