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ECB Holds Firm on Greek Bonds, AstraZeneca Slips After Disappointing Quarter
February 5, 2015 7:02 amVideo
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Asian stocks were mostly lower and the Euro slipped on Thursday after the European Central Bank said it would not accept Greek bonds as collateral – a robust early response to Athens’s efforts to renegotiate bailout terms with creditors. US stocks were mixed on Wednesday, snapping a two-day rally as energy shares slid with oil prices and as investors’ anxiety about the Euro zone returned in the closing minutes of trading. The Dow rose 6 points to close at 17,673, while the S&P500 lost 8 points to close at 2,041.
The Euro traded at $1.1348 having fallen as far as $1.1304. It has completely reversed a short-covering rally that lifted it to $1.1534 on Tuesday. The Euro last traded at 133.18 Yen, up 0.1% on the day but well below a near two-week high of 135.35 Yen that had been set on Wednesday. The Dollar held steady at 117.29 Yen, remaining well within a 116.00-119.00 range seen in the past few weeks. The Australian Dollar rose 0.3% to $0.7773, edging away from a six-year trough of $0.7627 set earlier in the week.
Crude oil plunged overnight in one of its biggest daily falls ever as record high U.S. oil inventories ended a four-day rally. U.S. crude was down 0.3% at $48.31 a barrel after sinking 9% on Wednesday
After a year of investment in its drug pipeline, AstraZeneca’s earnings per share fell more than expected in the fourth quarter, dragging the full year number short of the market’s target. The drug maker posted a fourth quarter net loss of $321m, with core EPS of $0.76 meaning full year figure was down 8% to $4.28, with analysts expecting $4.39. The stock is down 2.7% in early trade at 4556p per share.
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