European markets News

The NSE Nifty dropped 44.30 points or 0.19 per cent to settle at 22,888.15 despite beginning the day on a positive note. 

Nine years after acquiring Corus to become Europe's second largest steel maker, Tata Steel has finally announced plans to sell its UK business as the company battles to control its "deteriorating financial performance".

Asian shares and emerging currencies fell on Monday after the US Federal Reserve`s decision to keep interest rates at record lows raised fresh concerns about growth globally, particularly in China.  

European share markets recovered on Tuesday but Chinese stock markets closed down more than 7 percent, with panic selling intensifying after the Shanghai Composite Index crashed through key support at 3,000 points.

Xiaomi, whose products on Mi.com start at $10, said it does not plan to sell major items including smartphones and tablets in Europe and the United States yet, as "smartphones are a lot more complex to introduce to a new market."

The dollar surged 0.6 percent against the Japanese currency to 122.36 yen, breaking above the 122 level for the first time since March 10 and reaching an eight-year peak. 

Aurobindo Pharma has divested stake in its Australian subsidiary to Eris Pharma for an undisclosed amount to focus on the US, European and emerging markets.

Economic powerhouses Germany and China warned Greece on Thursday against reneging on reforms tied to its massive international bailout, as most European markets fell on fears Athens could default on its debt.

Fears that Greece could end up leaving the eurozone after elections later this month rattled European markets on Monday, with stock prices hammered.

Vodafone nudged its forecasts for core earnings higher on Tuesday after reporting a sharp improvement in its main quarterly revenue measurement helped by growing demand for mobile services in its big European markets.

Country's largest two-wheeler maker Hero MotoCorp aims to enter European markets, including Italy, Spain and France, by end of next year, with the launch of its hybrid-scooter 'Leap' in these countries.

Banks led the losers board in Europe, where London`s benchmark FTSE 100 index was down 0.61 percent at 6,608.78 points in afternoon trade.

Enthusiasm for initial public offerings (IPOs) has quadrupled the amount raised in Europe in the first nine months of this year compared to last to a total of $55.5 billion.

Investors have worried about a deepening stand-off between Ukraine and Russia, though recent signs of easing tensions had lifted equity markets, especially in Europe.

The ECB has made unprecedented policy moves in recent months to stimulate bank lending and revive the euro zone economy.

US gold futures for August delivery gained $3.90 an ounce to $1,256.30.

Asian stocks earlier touched their highest levels in nearly three years while Wall Street notched another record close on Friday.