Germany says it’s not ready to bar Huawei in potential US snub

Germany is not ready to exclude Huawei from its 5G network and may amend its laws so that potentially untrustworthy manufacturers can still provide equipment, its interior ministry told CNBC Tuesday. In an emailed statement, Bjorn Grunewalder, a spokesperson for the Federal Interior Ministry — known as the BMI — said it was looking to adapt telecoms networks to prepare for “new potential threats.” “For the BMI, the focus is on adapting the necessary security requirements so that the security of


Germany is not ready to exclude Huawei from its 5G network and may amend its laws so that potentially untrustworthy manufacturers can still provide equipment, its interior ministry told CNBC Tuesday. In an emailed statement, Bjorn Grunewalder, a spokesperson for the Federal Interior Ministry — known as the BMI — said it was looking to adapt telecoms networks to prepare for “new potential threats.” “For the BMI, the focus is on adapting the necessary security requirements so that the security of
Germany says it’s not ready to bar Huawei in potential US snub Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: chloe taylor, lluis gene, afp, getty images
Keywords: news, cnbc, companies, potential, 5g, germany, huawei, statement, telecoms, network, necessary, ready, equipment, ministry, security, requirements, networks, snub, bar


Germany says it's not ready to bar Huawei in potential US snub

Germany is not ready to exclude Huawei from its 5G network and may amend its laws so that potentially untrustworthy manufacturers can still provide equipment, its interior ministry told CNBC Tuesday.

In an emailed statement, Bjorn Grunewalder, a spokesperson for the Federal Interior Ministry — known as the BMI — said it was looking to adapt telecoms networks to prepare for “new potential threats.”

“A direct exclusion of a particular 5G manufacturer is currently not legally possible and not planned,” he said, according to a CNBC translation of the statement. “For the BMI, the focus is on adapting the necessary security requirements so that the security of these networks is guaranteed, even from a producer that may not be trustworthy.”

Grunewalder added that necessary security requirements would be added to Germany’s Telecommunications Act. Concrete adjustments are being discussed between the relevant federal ministries, he said, but no changes had been finalized.

Allowing Huawei to participate in its 5G network would come as a blow to the U.S., which has been working to persuade its allies to shut the Chinese telecoms firm out of their domestic infrastructure. The company has been blocked from selling equipment to the U.S. for many years, and President Donald Trump is reportedly expected to ban all Chinese telecoms equipment from U.S. networks.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: chloe taylor, lluis gene, afp, getty images
Keywords: news, cnbc, companies, potential, 5g, germany, huawei, statement, telecoms, network, necessary, ready, equipment, ministry, security, requirements, networks, snub, bar


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Germany says it’s not ready to bar Huawei in potential US snub

Germany is not ready to exclude Huawei from its 5G network and may amend its laws so that potentially untrustworthy manufacturers can still provide equipment, its interior ministry told CNBC Tuesday. In an emailed statement, Bjorn Grunewalder, a spokesperson for the Federal Interior Ministry — known as the BMI — said it was looking to adapt telecoms networks to prepare for “new potential threats.” “For the BMI, the focus is on adapting the necessary security requirements so that the security of


Germany is not ready to exclude Huawei from its 5G network and may amend its laws so that potentially untrustworthy manufacturers can still provide equipment, its interior ministry told CNBC Tuesday. In an emailed statement, Bjorn Grunewalder, a spokesperson for the Federal Interior Ministry — known as the BMI — said it was looking to adapt telecoms networks to prepare for “new potential threats.” “For the BMI, the focus is on adapting the necessary security requirements so that the security of
Germany says it’s not ready to bar Huawei in potential US snub Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: chloe taylor, lluis gene, afp, getty images
Keywords: news, cnbc, companies, potential, 5g, germany, huawei, statement, telecoms, network, necessary, ready, equipment, ministry, security, requirements, networks, snub, bar


Germany says it's not ready to bar Huawei in potential US snub

Germany is not ready to exclude Huawei from its 5G network and may amend its laws so that potentially untrustworthy manufacturers can still provide equipment, its interior ministry told CNBC Tuesday.

In an emailed statement, Bjorn Grunewalder, a spokesperson for the Federal Interior Ministry — known as the BMI — said it was looking to adapt telecoms networks to prepare for “new potential threats.”

“A direct exclusion of a particular 5G manufacturer is currently not legally possible and not planned,” he said, according to a CNBC translation of the statement. “For the BMI, the focus is on adapting the necessary security requirements so that the security of these networks is guaranteed, even from a producer that may not be trustworthy.”

Grunewalder added that necessary security requirements would be added to Germany’s Telecommunications Act. Concrete adjustments are being discussed between the relevant federal ministries, he said, but no changes had been finalized.

Allowing Huawei to participate in its 5G network would come as a blow to the U.S., which has been working to persuade its allies to shut the Chinese telecoms firm out of their domestic infrastructure. The company has been blocked from selling equipment to the U.S. for many years, and President Donald Trump is reportedly expected to ban all Chinese telecoms equipment from U.S. networks.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: chloe taylor, lluis gene, afp, getty images
Keywords: news, cnbc, companies, potential, 5g, germany, huawei, statement, telecoms, network, necessary, ready, equipment, ministry, security, requirements, networks, snub, bar


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Thailand launches Huawei 5G test bed, even as US urges allies to bar Chinese gear

Thailand on Friday launched a Huawei Technologies 5G test bed, even as the United States urges its allies to bar the Chinese telecoms giant from building next-generation mobile networks. The 5G test bed in Thailand, the United States’ oldest ally in Asia, will be Huawei’s first in Southeast Asia. Thailand’s cooperation with Huawei on the test bed does not mean it is not concerned about security issues, Minister of Digital Economy Pichet Durongkaveroj told Reuters at the launch. However, this 5G


Thailand on Friday launched a Huawei Technologies 5G test bed, even as the United States urges its allies to bar the Chinese telecoms giant from building next-generation mobile networks. The 5G test bed in Thailand, the United States’ oldest ally in Asia, will be Huawei’s first in Southeast Asia. Thailand’s cooperation with Huawei on the test bed does not mean it is not concerned about security issues, Minister of Digital Economy Pichet Durongkaveroj told Reuters at the launch. However, this 5G
Thailand launches Huawei 5G test bed, even as US urges allies to bar Chinese gear Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: artur widak, nurphoto, getty images
Keywords: news, cnbc, companies, huawei, bed, 5g, telecoms, bar, thai, thailand, site, chinese, launches, allies, southeast, states, united, urges, gear, test


Thailand launches Huawei 5G test bed, even as US urges allies to bar Chinese gear

Thailand on Friday launched a Huawei Technologies 5G test bed, even as the United States urges its allies to bar the Chinese telecoms giant from building next-generation mobile networks.

Huawei, the world’s top producer of telecoms equipment and second-biggest maker of smartphones, has been facing mounting international scrutiny amid fears China could use its equipment for espionage, a concern the company says is unfounded.

The 5G test bed in Thailand, the United States’ oldest ally in Asia, will be Huawei’s first in Southeast Asia.

Thailand’s cooperation with Huawei on the test bed does not mean it is not concerned about security issues, Minister of Digital Economy Pichet Durongkaveroj told Reuters at the launch.

“We keep a close watch on the allegations worldwide. However, this 5G test bed project is a testing period for the country,” Pichet added. “We can make observations which will be useful to either confirm or disconfirm the allegations.”

Pichet was speaking at the test site in Chonburi, the heart of the Thai military government’s $45 billion economic project — the Eastern Economic Corridor (EEC) — about 90 km southeast of Bangkok. Vendors like Nokia, Ericsson and Thai telecoms operators have also set up 5G labs at the site.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: artur widak, nurphoto, getty images
Keywords: news, cnbc, companies, huawei, bed, 5g, telecoms, bar, thai, thailand, site, chinese, launches, allies, southeast, states, united, urges, gear, test


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As Huawei faces trouble in the West, it could find solace in India

As Huawei comes under pressure in the West over allegations of technology theft and espionage, it may be able to find solace in developing countries where its pricing appeal could trump security concerns. India is the world’s largest smartphone market after China, and remains open to the prospect of using Huawei technology to build ultra-high wireless mobile networks known as 5G. In December, Prime Minister Narendra Modi’s government invited the Chinese tech giant to participate in 5G field tria


As Huawei comes under pressure in the West over allegations of technology theft and espionage, it may be able to find solace in developing countries where its pricing appeal could trump security concerns. India is the world’s largest smartphone market after China, and remains open to the prospect of using Huawei technology to build ultra-high wireless mobile networks known as 5G. In December, Prime Minister Narendra Modi’s government invited the Chinese tech giant to participate in 5G field tria
As Huawei faces trouble in the West, it could find solace in India Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: nyshka chandran, sean gallup, getty images
Keywords: news, cnbc, companies, solace, telecoms, west, trouble, foreign, palit, huawei, 5g, networks, technology, faces, united, india, equipment


As Huawei faces trouble in the West, it could find solace in India

As Huawei comes under pressure in the West over allegations of technology theft and espionage, it may be able to find solace in developing countries where its pricing appeal could trump security concerns.

India is the world’s largest smartphone market after China, and remains open to the prospect of using Huawei technology to build ultra-high wireless mobile networks known as 5G. In December, Prime Minister Narendra Modi’s government invited the Chinese tech giant to participate in 5G field trials alongside other foreign telecoms companies such as Nokia, Samsung and Ericsson.

The move was significant since the United States, the United Kingdom, Canada, Australia, New Zealand and Japan had blocked Huawei from their respective 5G networks at the time.

The Shenzhen-based firm may be mired in international controversy over charges that its equipment facilitates surveillance, but it still has a chance of selling 5G equipment in developing countries such as India that are price-sensitive, experts say.

Huawei’s 5G equipment strategically benefits India by increasing the range of options for domestic cellular operators, according to Amitendu Palit, a senior fellow specializing in trade and economic policy at the National University of Singapore. Indian telecoms will welcome Huawei’s competitive prices, which should be cheaper than the other foreign players, Palit told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: nyshka chandran, sean gallup, getty images
Keywords: news, cnbc, companies, solace, telecoms, west, trouble, foreign, palit, huawei, 5g, networks, technology, faces, united, india, equipment


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Australia’s TPG Telecom cancels Huawei-supplied mobile network

Australia’s TPG Telecom on Tuesday said it had halted construction of its mobile telephone network because it relied on Huawei Technologies equipment that has been banned by Australia’s government on security grounds. The world’s biggest telecoms equipment maker has been under siege since the arrest of its chief financial officer, Meng Wanzhou, in Canada last December. Broadband internet provider TPG in a statement said it chose Huawei as a supplier because it offered a simple upgrade path from


Australia’s TPG Telecom on Tuesday said it had halted construction of its mobile telephone network because it relied on Huawei Technologies equipment that has been banned by Australia’s government on security grounds. The world’s biggest telecoms equipment maker has been under siege since the arrest of its chief financial officer, Meng Wanzhou, in Canada last December. Broadband internet provider TPG in a statement said it chose Huawei as a supplier because it offered a simple upgrade path from
Australia’s TPG Telecom cancels Huawei-supplied mobile network Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: william west, afp, getty images
Keywords: news, cnbc, companies, telecom, upgrade, cancels, australian, telstra, telecoms, mobile, announcement, tpg, 5g, equipment, australias, huawei, huaweisupplied, network


Australia's TPG Telecom cancels Huawei-supplied mobile network

Australia’s TPG Telecom on Tuesday said it had halted construction of its mobile telephone network because it relied on Huawei Technologies equipment that has been banned by Australia’s government on security grounds.

The nascent network is the first commercial casualty in Australia of the ban announced in August and comes as Western powers restrict market access to Huawei over allegations — which it denies — that China could use its equipment for espionage.

The world’s biggest telecoms equipment maker has been under siege since the arrest of its chief financial officer, Meng Wanzhou, in Canada last December.

The U.S. Justice Department on Monday accused the company of bank fraud and conspiring to steal trade secrets from T-Mobile US.

Broadband internet provider TPG in a statement said it chose Huawei as a supplier because it offered a simple upgrade path from the fourth-generation (4G) network under construction to 5G.

“In light of the government’s announcement in late August 2018 that it would prohibit the use of Huawei equipment in 5G networks, that upgrade path has now been blocked,” TPG said. “It does not make commercial sense to invest further shareholder funds.”

TPG said it made the decision now because the project had reached a point where it would have had to place new orders. It did not elaborate on the fate of the completed part of the network but said it does not expect any impact on 2019 earnings guidance.

Huawei said TPG’s announcement was “extremely disappointing.”

“The Australian government’s 5G ban on Huawei will lead to reduced competition and higher prices for Australian consumers and business,” the Chinese firm said in an emailed statement.

TPG shares hit a six-week peak following its announcement. The cancellation has cost it A$100 million ($72 million) but is widely seen as eliminating duplication under the A$15 billion merger it has agreed with the Australian arm of Britain’s Vodafone Group.

Vodafone uses Huawei’s 4G equipment in Australia but will not use Huawei in its planned 5G network. Reduced competition among equipment suppliers will have “a financial impact” on those plans, a spokeswoman said.

TPG’s announcement also buoyed shares elsewhere in the sector, with those of Telstra rising five percent to a three-month high as investors expected relief from profit-margin pressure in the price-competitive sector. The broader market was down 0.7 percent.

“You take one network out and then, obviously, in the end, for customers you’ve got less choice,” said independent telecoms analyst Paul Budde. “This will be a relief for Telstra and others.”


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: william west, afp, getty images
Keywords: news, cnbc, companies, telecom, upgrade, cancels, australian, telstra, telecoms, mobile, announcement, tpg, 5g, equipment, australias, huawei, huaweisupplied, network


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Iran’s bid to launch a satellite fails

Iran’s bid to launch a satellite has failed, Telecoms Minister Mohammad Javad Azari-Jahromi said on Tuesday, after it ignored U.S. warnings to avoid such activity. Washington warned Tehran this month against undertaking three planned space rocket launches that it said would violate a U.N. Security Council resolution because they use ballistic missile technology.


Iran’s bid to launch a satellite has failed, Telecoms Minister Mohammad Javad Azari-Jahromi said on Tuesday, after it ignored U.S. warnings to avoid such activity. Washington warned Tehran this month against undertaking three planned space rocket launches that it said would violate a U.N. Security Council resolution because they use ballistic missile technology.
Iran’s bid to launch a satellite fails Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: don emmert, afp, getty images
Keywords: news, cnbc, companies, warned, space, undertaking, launch, satellite, security, irans, telecoms, bid, violate, technology, fails, warnings, tehran


Iran's bid to launch a satellite fails

Iran’s bid to launch a satellite has failed, Telecoms Minister Mohammad Javad Azari-Jahromi said on Tuesday, after it ignored U.S. warnings to avoid such activity.

Washington warned Tehran this month against undertaking three planned space rocket launches that it said would violate a U.N. Security Council resolution because they use ballistic missile technology.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: don emmert, afp, getty images
Keywords: news, cnbc, companies, warned, space, undertaking, launch, satellite, security, irans, telecoms, bid, violate, technology, fails, warnings, tehran


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Huawei blocked from providing core tech to a 5G network in the UK

Chinese tech giant Huawei will be excluded from providing technology for the core 5G network being developed by U.K. telecoms firm BT. While Huawei will not be selected as a vendor for the core 5G network, it will still be eligible to provide some infrastructure support – such as phone mast antennas. “We’re applying these same principles to our current RFP (Request for Proposal) for 5G core infrastructure,” the spokesperson explained. Huawei remains an important equipment provider outside the co


Chinese tech giant Huawei will be excluded from providing technology for the core 5G network being developed by U.K. telecoms firm BT. While Huawei will not be selected as a vendor for the core 5G network, it will still be eligible to provide some infrastructure support – such as phone mast antennas. “We’re applying these same principles to our current RFP (Request for Proposal) for 5G core infrastructure,” the spokesperson explained. Huawei remains an important equipment provider outside the co
Huawei blocked from providing core tech to a 5G network in the UK Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: chloe taylor, jason alden bloomberg via getty images
Keywords: news, cnbc, companies, internet, network, telecoms, spokesperson, providing, provide, uk, blocked, equipment, vendor, core, 5g, tech, huawei


Huawei blocked from providing core tech to a 5G network in the UK

Chinese tech giant Huawei will be excluded from providing technology for the core 5G network being developed by U.K. telecoms firm BT.

The firm’s equipment will also be removed from BT’s existing 3G and 4G networks. While Huawei will not be selected as a vendor for the core 5G network, it will still be eligible to provide some infrastructure support – such as phone mast antennas.

BT acquired telecoms firm EE in 2016 and will use its existing network to launch a national 5G rollout. 5G will provide superfast mobile internet access and is widely expected to revolutionize technologies such as self-driving cars and the internet of things.

In an email sent to CNBC, a BT spokesperson confirmed the process to remove Huawei equipment from the core of its 3G and 4G networks began in 2016. They said this was done as a “part of network architecture principles in place since 2006.”

“We’re applying these same principles to our current RFP (Request for Proposal) for 5G core infrastructure,” the spokesperson explained. “As a result, Huawei have not been included in vendor selection for our 5G core. Huawei remains an important equipment provider outside the core network, and a valued innovation partner.”

EE is currently trialing 5G mobile internet in London’s Canary Wharf.

A Huawei spokesperson was not immediately available for comment when contacted by CNBC.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: chloe taylor, jason alden bloomberg via getty images
Keywords: news, cnbc, companies, internet, network, telecoms, spokesperson, providing, provide, uk, blocked, equipment, vendor, core, 5g, tech, huawei


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Europe markets: Rising worries over US-China trade truce

The pan-European Stoxx 600 was down 0.7 percent during deals, with most sectors and major bourses in negative territory. Europe’s autos sector, which has been the most sensitive to trade war fears in recent months, led the losses, down almost 2.5 percent Tuesday. France’s Faurecia was the worst sectoral performer, with shares down 6.6 percent after Jefferies cut its target price for the stock. The technology sector was also a big loser, falling 1.4 percent. U.K. Telecoms firm BT had better fortu


The pan-European Stoxx 600 was down 0.7 percent during deals, with most sectors and major bourses in negative territory. Europe’s autos sector, which has been the most sensitive to trade war fears in recent months, led the losses, down almost 2.5 percent Tuesday. France’s Faurecia was the worst sectoral performer, with shares down 6.6 percent after Jefferies cut its target price for the stock. The technology sector was also a big loser, falling 1.4 percent. U.K. Telecoms firm BT had better fortu
Europe markets: Rising worries over US-China trade truce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: david reid, sam meredith
Keywords: news, cnbc, companies, markets, uk, upgrade, rising, war, truce, worst, worries, uschina, target, technology, trade, europe, telecoms, territoryeuropes, sector


Europe markets: Rising worries over US-China trade truce

The pan-European Stoxx 600 was down 0.7 percent during deals, with most sectors and major bourses in negative territory.

Europe’s autos sector, which has been the most sensitive to trade war fears in recent months, led the losses, down almost 2.5 percent Tuesday. France’s Faurecia was the worst sectoral performer, with shares down 6.6 percent after Jefferies cut its target price for the stock. One in four automobiles is equipped by parts made by Faurecia.

The technology sector was also a big loser, falling 1.4 percent. Chip-makers are also heavily exposed to China and AMS and Siltronic dipped around 5 and 8 percent respectively.

U.K. Telecoms firm BT had better fortunes, rising more than 2 percent after a Goldman Sachs upgrade to to “Buy” from “Neutral.”

European markets fell additional pressure as both the euro and pound moved higher. Those currencies enjoyed attention after a lawyer advised Europe’s top court that the U.K. could end Brexit without seeking the permission of others.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: david reid, sam meredith
Keywords: news, cnbc, companies, markets, uk, upgrade, rising, war, truce, worst, worries, uschina, target, technology, trade, europe, telecoms, territoryeuropes, sector


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UK spy chief raises questions over China’s 5G rollout

The U.K.’s spy chief said that decisions still had to be made on China’s role in building Britain’s 5G network. In a rare public speech, MI6 chief Alex Younger — also known as “C” — was asked Monday about allowing Chinese telecoms giants such as Huawei to provide technology for the U.K.’s 5G rollout. Last week, New Zealand banned Huawei from providing tech for its 5G rollout — the third member of the Five Eyes security alliance to do so. All three nations cited national security fears as the rea


The U.K.’s spy chief said that decisions still had to be made on China’s role in building Britain’s 5G network. In a rare public speech, MI6 chief Alex Younger — also known as “C” — was asked Monday about allowing Chinese telecoms giants such as Huawei to provide technology for the U.K.’s 5G rollout. Last week, New Zealand banned Huawei from providing tech for its 5G rollout — the third member of the Five Eyes security alliance to do so. All three nations cited national security fears as the rea
UK spy chief raises questions over China’s 5G rollout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: chloe taylor, wpa pool, getty images
Keywords: news, cnbc, companies, 5g, told, chief, security, rollouts, huawei, chinas, chinese, technologies, rollout, telecoms, questions, spy, raises, uks, uk


UK spy chief raises questions over China's 5G rollout

The U.K.’s spy chief said that decisions still had to be made on China’s role in building Britain’s 5G network.

In a rare public speech, MI6 chief Alex Younger — also known as “C” — was asked Monday about allowing Chinese telecoms giants such as Huawei to provide technology for the U.K.’s 5G rollout. He told students at St Andrews University in Scotland that the Secret Intelligence Service (SIS) had “some decisions to take” over China’s involvement.

“We need to decide the extent to which we are going to be comfortable with Chinese ownership of these technologies,” he said, noting that Chinese frameworks varied from the U.K.’s both legally and ethically.

Superfast 5G mobile internet is widely predicted to revolutionise cities and future technologies such as autonomous vehicles, with many countries preparing for rollouts within the next few years.

Last week, New Zealand banned Huawei from providing tech for its 5G rollout — the third member of the Five Eyes security alliance to do so. At the time, New Zealand’s government said it had identified a “significant network security risk.”

Fellow members Australia and the U.S. have also excluded Chinese telecoms firms from providing 5G equipment for their domestic networks, leaving Canada and the U.K. as the only members not to rule out using the telecoms giant.

All three nations cited national security fears as the reason for excluding Chinese companies from their 5G rollouts, with Younger’s Australian counterpart referring to them as “high-risk vendors.”

A Huawei spokesperson was not immediately available for comment when contacted by CNBC. However, Eric Xu, one of the rotating chairmen at Huawei, told CNBC on Thursday that blocking Huawei from the 5G market could result in higher costs for both consumers and telecoms firms.

Huawei and ZTE – another Chinese firm blocked from the U.S. 5G market – have repeatedly denied that their involvement in the rollouts would give China’s government access to international networks.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: chloe taylor, wpa pool, getty images
Keywords: news, cnbc, companies, 5g, told, chief, security, rollouts, huawei, chinas, chinese, technologies, rollout, telecoms, questions, spy, raises, uks, uk


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European stocks climb; Bank of England holds rates

The pan-European Stoxx 600 finished provisionally up by 0.24 percent with sectors and major bourses almost evenly split between winners and losers. Europe’s telecoms stocks led the gains on the back of robust earnings results. On the other hand, oil and gas stocks fell under pressure. Tgs-Nopec Geophysical fell more than 9.8 percent after posting weaker-than-anticipated third-quarter operating profit. Looking across the European benchmark, ASMI surged near the top of the European benchmark on Th


The pan-European Stoxx 600 finished provisionally up by 0.24 percent with sectors and major bourses almost evenly split between winners and losers. Europe’s telecoms stocks led the gains on the back of robust earnings results. On the other hand, oil and gas stocks fell under pressure. Tgs-Nopec Geophysical fell more than 9.8 percent after posting weaker-than-anticipated third-quarter operating profit. Looking across the European benchmark, ASMI surged near the top of the European benchmark on Th
European stocks climb; Bank of England holds rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-01  Authors: david reid, silvia amaro, sam meredith
Keywords: news, cnbc, companies, telecoms, tgsnopec, thirdquarter, benchmark, fell, winners, european, rates, stocks, holds, climb, bank, england, weakerthananticipated, surged


European stocks climb; Bank of England holds rates

The pan-European Stoxx 600 finished provisionally up by 0.24 percent with sectors and major bourses almost evenly split between winners and losers.

Europe’s telecoms stocks led the gains on the back of robust earnings results. BT was the top sectoral performer, after raising its company outlook. Shares were 8.6 percent higher at the close.

On the other hand, oil and gas stocks fell under pressure. Tgs-Nopec Geophysical fell more than 9.8 percent after posting weaker-than-anticipated third-quarter operating profit.

Looking across the European benchmark, ASMI surged near the top of the European benchmark on Thursday, up 10.8 percent, after strong third-quarter results.

Meanwhile, Credit Suisse dropped nearly 2.1 percent after missing forecasts, despite a 74 percent increase in net income from a year ago.


Company: cnbc, Activity: cnbc, Date: 2018-11-01  Authors: david reid, silvia amaro, sam meredith
Keywords: news, cnbc, companies, telecoms, tgsnopec, thirdquarter, benchmark, fell, winners, european, rates, stocks, holds, climb, bank, england, weakerthananticipated, surged


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