amwalalghad :: World

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Money Markets - World

Amwal Al Ghad English - 2017-12-07 06:16:05
European markets closed lower by a small margin Wednesday afternoon as investors reacted to a slump in global technology stocks. The pan-European Stoxx 600 ended the day's trading down 0.1 percent with sectors pointing in different directions, with some having recovered from losses earlier in the day. Most major bourses were in negative territory but the U.K. FTSE rebounded in afternoon trade, closing 0.28 percent to the upside. Auto and bank stocks fell the furthest Wednesday, with both sectors down roughly 1 percent. Tech stocks have come under pressure recently amid concern that the chip market boom could soon come to an end. But, the sector recovered roughly half of 1 percent in afternoon trade, ultimately closing 0.56 percent lower. The food and beverages sector was 0.77 percent higher. Looking at individual stocks, Steinhoff shares crashed on Wednesday after the retail group announced it had launched an investigation into accounting irregularities after the CEO had resigned. Its shares closed over 63 percent lower on the news.The U.K.'s Saga was another big faller Wednesday, down more than 21 percent after a profit warning. The company, which specializes in over-50s travel and insurance, said profits in the current financial year would grow more slowly than anticipated.Meanwhile, British shopping center investment firm Hammerson announced Wednesday it had agreed to buy Intu Properties in a deal worth approximately £3.4 billion ($4.56 billion). Shares of Intu Properties topped the Stoxx 600 Wednesday afternoon, rallying nearly 14 percent by the end of the day. Stateside, U.S. equities rebounded following a lower open. Tech stocks bounced back from falls in recent days, as investors kept an eye on news concerning tax reform coming out of Washington. In the latest news surrounding the divorce proceedings between the U.K. and the European Union (EU), British leader Theresa May is facing pressure from fellow political parties to soften negotiations by keeping the U.K. within the customs union and the single market after it leaves the political-economic bloc, Reuters reported. Consequently, investors will be paying close attention to the British pound during the week as it battles with Brexit developments. Speaking of currencies, Bitcoin broke above the $12,000 mark prior to the European open as the cryptocurrency continued to advance. Stateside, President Donald Trump is reportedly poised to announce the U.S. will recognize Jerusalem as Israel's capital on Wednesday, with senior administration officials saying the embassy will be moved there, although noted that this could take "years". The move is controversial in the Middle East and has been criticized by Turkey, among others. More»
Amwal Al Ghad English - 2017-12-07 06:12:45
Asian markets were mixed on Thursday, as the Hang Seng Index and Nikkei 225 recouped some losses after falling around 2 percent on Wednesday. Stateside, major indexes closed narrowly mixed as investors awaited tax reform developments. Japan's Nikkei 225 bounced 1.27 percent after falling nearly 2 percent in the previous session. Gains were seen across sectors, with automakers, tech and financial names all climbing higher. Energy-related plays were mixed after oil prices slid on Wednesday. Across the Korean Strait, the benchmark Kospi index slipped 0.36 percent. Gains in some tech heavyweights were offset by losses in the manufacturing and oil sectors. Blue-chip Samsung Electronics rose 0.32 percent while steelmakers Posco and Hyundai Steel edged down 0.9 percent and 0.49 percent, respectively. Down Under, the S&P/ASX 200 advanced 0.57 percent. The heavily-weighted financials sub-index gained 0.74 percent as Australia's "Big Four" banks recorded gains on the day: ANZ tacked on 0.78 percent and Westpac rose 1.34 percent. Major miners were mixed. More»
Amwal Al Ghad English - 2017-12-06 06:58:11
European markets closed in the red by a small margin Tuesday as investors digested the latest news surrounding Brexit talks and monitored fresh economic data. The pan-European Stoxx 600 finished the day's trading 0.19 percent lower, with major bourses in the red. Europe's basic resources stocks led the losses, having tumbled 1.41 percent lower by the end of Tuesday's trade amid heavy falls in metals markets. Rio Tinto, Glencore and Anglo American were all over 2 percent down. Retail was the best performing sector, up 0.76 percent having pared back from gains of over 1 percent in afternoon trade. Tesco was one of the top performers on Tuesday amid news of a double upgrade from Goldman Sachs. The U.S. broker upgraded Britain's biggest retailer to "buy" from "sell" as it said margin pressure in the U.K. grocery market was easing. Tesco's shares closed up nearly 3 percent, having rallied by over 8.5 percent earlier in the afternoon. Provident tumbled to the bottom of the benchmark on Tuesday after the U.K.'s financial watchdog opened an investigation into its car and manufacturing arm. The British sub-prime lender said an investigation by the Financial Conduct Authority (FCA) would examine its Moneybarn unit. Its shares finished the day's trading down by just over 10 percent. On the data front, the European economy enjoyed another robust month in November. The euro zone composite PMI, calculated by data firm Markit, surged to 57.5, up from 56.0 in October. That's the highest monthly reading in more than 6.5 years. The topic of Brexit will continue to shake up sentiment. In the latest talks between the U.K. and the European Union, both sides failed to agree upon the terms for the U.K. leaving the political-economic bloc on Monday. In the U.S., stocks were trading higher as investors continued to be positive about the recently passed Republican bill to overhaul the country's tax system. Shares in financials have been trading particularly well on the back of potential tax reform, up over 3 percent on the past week. Bank of America jumped more than 1 percent in premarkets after the bank announced a £5 billion stock buyback, on top of a $12 billion repurchase announced earlier this year. Meanwhile, the technology sector rebounded in Tuesday's trade, having fallen over 3 percent in the past week as investors moved into sectors more likely to benefit from a lower corporate tax rate. More»
Amwal Al Ghad English - 2017-12-05 06:28:22
European markets closed higher Monday afternoon as investors digested news that the U.S. Senate narrowly passed a major tax bill over the weekend. The pan-European Stoxx 600 ended the day's trading up 0.91 percent, with major bourses and all sectors bar technology in positive territory. The construction and material sector led the gains, up nearly 1.6 percent, followed by the autos and chemicals sectors. Europe's auto stocks, which have a large exposure to the U.S., rose 1.56 percent Monday afternoon after the U.S. Senate passed a tax package delivering significant fiscal stimulus.Looking at individual stocks, Switzerland-based fintech firm Temenos led the Stoxx 600, followed by U.K. media company Daily Mail and Italian eyewear firm Luxottica. Denmark's largest insurance firm Tryg said it had agreed to buy unlisted competitor Alka Forsikring for $1.31 billion on Monday. The company said it was looking to bolster its presence in the property and casualty insurance markets. Tryg's shares closed over 3 percent higher.Meanwhile, Dialog Semiconductor slumped to the bottom of the benchmark Monday, with its shares ending the day's trading over 24 percent lower. The German microchip maker said its top customer Apple could soon opt to build its own power-management chips instead. However, Dialog Semiconductor said it should not lose its Apple power chip business in 2018. In Europe, the U.K. and the European Union have as yet failed to agree on the terms of Brexit, as announced in a press briefing held by U.K. Prime Minister Theresa May and European Commission President Jean-Claude Juncker in Brussels, Belgium. But, both politicians were positive on negotiations, with Juncker saying that he felt that sufficient progress could be made ahead of a broader EU summit later this month. Britain and the EU have reportedly agreed to avoid a hard border between the U.K. country of Northern Ireland, and its neighbor- the separate EU member state of the Republic of Ireland, for whom the U.K. is a major trading partner. Stateside, U.S. markets were buoyant with the Dow 230 points higher, boosted by the Senate narrowly passing a Republican bill to overhaul the country's tax system over the weekend. But, the GOP still needs to overcome obstacles in order for the Senate and the House to craft a joint bill, with Republicans hoping a deal will be achieved by Christmas. More»
Amwal Al Ghad English - 2017-12-04 06:09:06
Asian markets traded mixed late Monday morning, while U.S. futures rose, as investors digested news that the U.S. Senate narrowly passed an important tax bill in the early hours of Saturday. Dow Jones industrial average e-mini futures rose 221 points to 24,459 at 11:26 a.m. HK/SIN. Nasdaq e-mini futures were up 31 points and the S&P 500 e-mini futures rose 16 points. In Australia, the ASX 200 traded flat as the heavily-weighted financial subindex fell 0.68 percent. The country's so-called Big Four banks saw losses in the morning session. Shares of ANZ were down 0.84 percent, Commonwealth Bank declined 0.51 percent, Westpac fell by 1.3 percent and the National Australia Bank was lower by 0.47 percent. Japan's Nikkei 225 declined 0.2 percent while the Topix index traded down fractionally lower. Across the Korean Strait, the Kospi stood out and traded up 0.47 percent. Chinese mainland markets reversed early losses to trade up. The Shanghai composite retraced losses of near 0.3 percent to trade up 0.12 percent. The Shenzhen composite traded near flat. More»
Yomna Yasser - 2017-11-30 06:40:58
European stocks closed higher on average Wednesday after signs of progress with U.S. tax cuts and Brexit negotiations boosted sentiment. The pan-European STOXX 600 ended around 0.26 percent higher in trade, with most sectors in positive territory. The U.K.'s FTSE 100 closed lower by 0.9 percent, as sterling rose against the U.S. dollar. Most other bourses, with the exception of the Swiss market, ended higher. Retail stocks led the gains on Wednesday, up 1.74 percent for the day. Ocado was one of the top performers in the sector, adding to gains of more than 20 percent in the previous session. HSBC raised its target price for the stock, sending shares of the U.K. online grocer group more than 15 percent higher. A basket of U.K. & European Bank stocks closed the day around 1.6 percent higher. This after the Fed Chair nominee Jerome Powell suggested a December interest rate hike looked likely. Deutsche Bank said plans to revamp its investment bank would take another two to three years. Germany's largest lender has been seeking to steady the ship after a series of scandals and lawsuits last year. Its shares rose 2.4 percent. In other stock news, Spain's Aena, meanwhile, rose more than 3 percent after Santander upgraded its rating on the stock to "buy". Back in Europe, Britain and the European Union (EU) were reported to have reached a deal on a Brexit divorce bill on Tuesday. British newspapers said the final total would be approximately 50 billion euros ($59.2 billion). A deal over the bill would indicate London and Brussels are edging closer to a new phase in their negotiations. Meanwhile, market focus also turned to bitcoin after it surpassed $11,000 during European trade. The digital currency, which was valued at 6 cents seven years ago, has soared more than 20 percent since Friday. Stateside, the prospects of a tax cut appeared to improve on Tuesday as Senate Republicans moved to set up a full vote as soon as Thursday. However, several details of the measure remain unsettled and Republican leaders have admitted they are yet to round up the votes needed for passage in the Senate. In the United States markets opened with record highs for the Dow Jones Industrial Average and the S&P 500. Earlier a revision of third-quarter U.S. GDP showed the economy expanded at an annualized rate of 3.3 percent. Meanwhile, despite the improved economic growth in the euro zone, the European Central Bank warned Wednesday that there are concerns linked to a sudden increase in volatility. More»
Amwal Al Ghad English - 2017-11-30 06:33:55
Asian markets tracked lower on Thursday as oil prices firmed after falling in the last session. Meanwhile, technology stocks in the region declined after U.S. shares in the sector sold off on Wednesday. Investors in the region also digested the better-than-expected official manufacturing PMI data out of China. Japan's Nikkei 225 edged up 0.1 percent as major tech names traded lower. Sony fell 2.01 percent and Nintendo was 2.62 percent lower. Financials, trading houses and automakers, however, mostly notched gains. In South Korea, the benchmark Kospi index declined 0.74 percent, but was trading off session lows after the Bank of Korea's raised interest rates for the first time in six years. The central bank increased rates to 1.5 percent from 1.25 percent in a move that had been widely expected by markets. "The markets are priced for today's move, so the impact is expected to be muted," Prakash Sakpal, Asia economist at ING, said in a note. Samsung Electronics and SK Hynix, the two-largest names on the index, fell 3.42 percent and 6.43 percent, respectively, with the tech sector the worst-performing sector on the day. Down Under, the S&P/ASX 200 lost 0.57 percent, with losses in materials, technology and banking stocks dragging the index lower. More»
Amwal Al Ghad English - 2017-11-29 06:52:56
Asian markets traded mixed on Wednesday, but mostly shrugged off North Korea's latest missile launch. North Korea on Wednesday local time launched a likely intercontinental ballistic missile that landed in the Sea of Japan, according to the Pentagon. The launch, the North's first since Sept. 15, came after the U.S. classified North Korea as a country that supported terrorism on November 20. Following the launch, President Donald Trump said the U.S. would "take care of" the situation. Japanese Prime Minister Shinzo Abe and Trump have also agreed to increase their cooperation on the North, Reuters said, citing Japanese media. North Korea later boasted through local media that its new ICBM was capable of reaching the U.S., but the rogue nation claimed its weapons program would not threaten countries that did not infringe on the North's sovereignty. Despite that, most markets in Asia edged higher, following the strong lead from U.S. stocks on tax reform progress and after Federal Reserve Chair nominee Jerome Powell's Senate testimony. "The markets seem to be more immune than in the past to North Korea's missile testing," Prakash Sakpal, Asia economist at ING, said in a morning note. Japan's Nikkei 225 shrugged off the North's latest missile launch to rise 0.31 percent. Major exporters were mixed as the dollar held onto overnight gains against the yen, with automakers mixed, but tech names mostly higher. Trading houses and financials notched gains. Retail sales in October declined 0.2 percent compared to one year ago, although the figure remained in line with what was forecast in a Reuters poll. That was the first fall in yearly retail sales in a year, Reuters said. Across the Korean Strait, the benchmark Kospi index was little changed, trading higher by 0.01 percent as several blue-chip tech names declined. Heavyweight Samsung Electronics lost 1.2 percent while companies that have been sensitive to developments related to the THAAD anti-missile system traded mixed: Lotte Shopping fell 2.11 percent and LG Household and Healthcare advanced 0.08 percent. Shares of cosmetics names Amorepacific and Cosmax were up 1.29 percent and 4.47 percent, respectively, following news that China would once again let travel agencies resume selling tour packages to South Korea. Down Under, the S&P/ASX 200 was 0.43 percent higher, with heavily-weighted financial stocks climbing 0.66 percent. Sector-wise, utilities and retail names traded higher. Greater China markets came under some pressure. Hong Kong's Hang Seng Index slipped 0.3 percent. On the mainland, the Shanghai Composite shed 0.47 percent and the Shenzhen Composite edged down 0.76 percent. Blue chips sold off on the mainland, with the CSI 300 index down 0.92 percent. Meanwhile, MSCI's broad index of shares in Asia Pacific excluding Japan was slightly higher, rising 0.11 percent at 1:03 p.m. HK/SIN. The North's latest missile launch failed to dent sentiment stateside, with U.S. stocks closing the Tuesday session higher as markets focused on tax reforms. Financials also got a boost following Powell's comments on regulation. Major U.S. indexes closed at record highs, with the Dow Jones industrial average rising 1.09 percent, or 255.93 points, to close at 23,836.71. Stateside, markets turned their attention to tax reform after the Senate Budget Committee approved the Republican tax bill, a crucial step toward a vote in the full chamber later this week. Senate Republicans, who hold 52 seats, can only afford to lose two votes to still pass the bill under special budget rules. Meanwhile, Federal Reserve chair nominee Jerome Powell indicated the case for a December rate hike was "coming together." Powell also said he favored "tailoring" regulations on financial institutions, adding that regulation on smaller banks ought to be decreased in intensity. The dollar held onto most overnight gains after broadly firming following Powell's comments, with the dollar index coming off a two-month low touched earlier this week. That index stood at 93.192 at 12:48 p.m. HK/SIN, after trading at the 92.8 handle earlier in the week. The dollar was steady against the Japanese currency, with the greenback fetching 111.46, compared to Tuesday's close of 111.45. Also of note were reports that a divorce bill between the U.K. and the European Union had been agreed upon, with newspapers citing a sum around 50 billion euros ($59 billion), according to Reuters. The pound traded at $1.3361 at 12:48 p.m. HK/SIN after rising as high as $1.3386 overnight from a low of $1.3219 in the last session. In other news, bitcoin crossed the $10,000 mark early on Wednesday, according to industry site CoinDesk. The cryptocurrency has risen some 900 percent in value year-to-date. Oil prices came under pressure ahead of a Thursday meeting of major oil producers. U.S. West Texas Intermediate shed 0.55 percent to trade at $57.67 per barrel. Brent crude futures declined 0.74 percent to settle at $63.14 per barrel. Alibaba Group is selling a multi-tranche dollar bond which will price during U.S. hours, Reuters reported, citing a term sheet. The bond has five tranches — 5.5-year, 10-year, 20-year, 30-year and 40-year — and price guidance was indicated at approximately 100, 130, 140, 160 and 180 basis points above U.S. Treasurys, respectively. Elsewhere, Vietnam intends to sell 54 percent of Sabeco, the country's largest producer of beer, according to Reuters. Total foreign ownership in the brewer would be limited at 49 percent, Reuters added, citing an official. More»
Amwal Al Ghad English - 2017-11-29 06:45:42
European bourses are seen opening mixed on Wednesday morning amid renewed concerns over North Korea's latest missile launch, while bitcoin surged past $10,000 for the first time. The FTSE 100 is set to open 30 points lower at 7,432; while the DAX is expected to start up by 53 points at 13,113 and the CAC 40 is poised to open 19 points higher at 5,411. In Asia, stocks were held back over Pyongyang's latest missile test. North Korean state media confirmed Wednesday it had successfully launched a new type of intercontinental ballistic missile that it claimed was capable of reaching the U.S. mainland. Meanwhile, market focus also turned to bitcoin after it surpassed $10,000 during Asian trade. The digital currency, which was valued at 6 cents seven years ago, has soared more than 20 percent since Friday. Stateside, the prospects of a tax cut appeared to improve on Tuesday as Senate Republicans moved to set up a full vote as soon as Thursday. However, several details of the measure remain unsettled and Republican leaders have admitted they are yet to round up the votes needed for passage in the Senate. Back in Europe, Britain and the European Union (EU) were reported to have reached a deal on a Brexit divorce bill on Tuesday. British newspapers said the final total would be approximately 50 billion euros ($59.2 billion). A deal over the bill would indicate London and Brussels are edging closer to a new phase in their negotiations. On the data front, the euro area is due to report business and consumer confidence at around 10 a.m. London time on Wednesday. Elsewhere, the European Central Bank is expected to publish its Financial Stability Review. More»
Amwal Al Ghad English - 2017-11-28 06:35:48
European stocks closed lower on Monday, pushed down by the selling of stocks in financial services and tech. The pan-European Stoxx 600 fell 0.46 percent during the day's trade. Europe's banking index ended Monday 0.73 percent lower after an unexpected announcement from Switzerland's third-largest bank. Julius Baer Chief Executive Boris Collardi resigned to take a new role at domestic rival Pictet Group. The Swiss private bank slumped towards the bottom of the index on the news, ending the day down around 4 percent. Technology stocks led the losses on Monday, closing down 0.72 percent. British tech firm Micro Focus slipped towards the bottom of the sector after Deutsche Bank downgraded the stock to "hold" from "buy". Its shares closed 3.69 percent lower on the news. Looking at individual stocks, Ocado rose to the top of the Stoxx 600 after Credit Suisse claimed that weakness it the U.K. grocery supplier was overdone. It closed more than 7 percent higher. Ingenico Group also surged towards to the top of the index after Morgan Stanley upgraded its stock recommendation to "equal-weight" on Monday. Its shares ended over 3.6 percent higher. The euro climbed to a two-month high against the dollar Monday before retreating. The single currency was initially supported by fresh record highs for Berlin's business confidence index and an agreement by Germany's Social Democrats to hold talks with Chancellor Angela Merkel in a bid to form a new coalition government. In the U.S., stocks hit fresh highs. On a sector basis, retail stocks pushed higher following the Black Friday weekend of sales. The rise in retail stocks helped lift the S&P 500, Dow Jones industrial average and Nasdaq composite indexes to all-time highs. E-commerce giant Amazon got a positive nod from investors following Black Friday, as its stock climbed nearly 2 percent. Meanwhile, oil prices were lower on Monday, falling away from two-year highs amid expectations of increased U.S. output. However, the prospect of an OPEC-led supply cut extension later in the week, appeared to cap losses. The major oil producing group is due to meet on Thursday. More»