Europe Shares Rise On Renewed Hopes For U.s. Debt Deal

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Europe’s Air Pollution Spurred By Growing Use Of Wood Fires And Diesel Cars, Watchdog Group Says

(BORIS HORVAT/AFP/Getty Images) By Charlie Dunmore BRUSSELS, Oct 15 (Reuters) – Air pollution is dangerously high across many parts of Europe, resulting in premature deaths, ill health and huge economic losses linked to reduced crop yields, Europe’s environmental watchdog said on Tuesday. While emissions of some pollutants have declined sharply in Europe in recent decades, more diesel cars and a rise in wood burning by households as a cheap alternative to gas mean other types of harmful pollution are receding more slowly. European regulators are expected to propose a tightening of EU limits on microscopic particles known as particulate matter (PM) and other pollutants, with legislative proposals expected before the end of the year. A total of 22 European countries including France, Italy and Poland exceeded the daily EU limit value for PM in 2011, while stricter, non-binding guideline limits set by the World Health Organization (WHO) were exceeded at most monitoring stations across continental Europe, according to a report by the European Environment Agency (EEA). EU Environment Commissioner Janez Potocnik said it should be realistic for the European Union to achieve WHO guidelines by 2050 at the latest and debate was ongoing on what kind of interim targets the Commission would propose. “My main objective is to put the EU on a clear pathway towards achieving WHO guidelines,” he said at a presentation of the EEA report. “It’s a roadmap for how we can live longer, live healthier and protect our fragile ecosystems better.” PROGRESS SO FAR In the last decade, tighter European regulations on power stations and other sources of pollution have seen a 50 percent cut in emissions of sulphur dioxide, which causes acid rain, while carbon monoxide emissions have fallen by a third. By contrast, the amount of harmful particles and ozone in the air has fallen only slightly. Combined with WHO findings that lower concentrations of air pollution can be more harmful than previously thought, pressure is building on the European Union to do more. “Air pollution is causing damage to human health and ecosystems. Large parts of the population do not live in a healthy environment, according to current standards,” said Hans Bruyninckx, Executive Director of the Copenhagen-based EEA. The tighter proposed limits on PM could pose problems for EU governments, many of which have struggled to meet the existing limits in force since 2010, resulting in up to a third of Europeans being exposed to dangerous levels of PM pollution.

Europe stocks rally on U.S. budget deal progress

Earnings Wall

debt deal Tue Oct 15, 2013 3:58am EDT * FTSEurofirst 300 up 0.5 pct, Euro STOXX 50 up 0.4 pct * DAX hits record high, CAC 40 reaches 5-year high * Burberry drops 5 pct after CEO leaves * Nexans sinks 13 pct on profit warning, capital increase By Blaise Robinson PARIS, Oct 15 (Reuters) – European shares rose early on Tuesday, gaining ground for the fourth session in a row, boosted by signs that a deal could soon be reached in Washington to avert a damaging debt default. At 0726 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 1,259.15 points, while the euro zone’s blue-chip Euro STOXX 50 index added 0.4 percent to 2,988.35 points, hitting a fresh 2-1/2 year high. Positive signals from talks on Monday between Democrat and Republican Senate leaders fuelled hopes of an imminent deal to reopen shuttered U.S. federal agencies and prevent a default on federal debt, sending world stocks higher. “Relief that politicians have taken the U.S. to the edge and back again is clear,” said Keith Bowman, equity analyst at Hargreaves Lansdown. The plan under discussion would end a partial government shutdown and raise the debt ceiling by enough to cover the nation’s borrowing needs at least until mid-February 2014. Around Europe, the UK’s FTSE 100 index was up 0.6 percent, France’s CAC 40 was up 0.3 percent, reaching a five-year high, and Germany’s DAX index was up 0.5 percent, hitting a record high. “The consensus is bullish, everyone believes that a deal will be reached, so it could already be priced in,” said Guillaume Dumans, co-head of research firm 2Bremans. “Deal or no deal, the size of the U.S. Casino rose 3.6 percent after the French supermarket chain said sales growth accelerated in the third quarter thanks to robust demand in Brazil. French cable maker Nexans plummeted 13 percent after slashing its profit outlook and unveiling a capital increase. Investors will keep a close eye on U.S.

Europe ETFs Survive U.S. Shutdown

On the Senate floor on Monday, Senate Majority Leader Harry Reid said he was very optimistic about concluding deals this week to raise the debt limit as well as end the government shutdown. Sen. Mitch McConnell, the minority leader, said he shared Reids feeling that well get a result thats acceptable to both sides. On Tuesday, media reports said House Republicans will push for a separate bill containing the same extensions to the debt ceiling and budget, but delays the medical-device tax for two years and turns off the Treasurys capability to use so-called extraordinary measures. A bit after the report, House Speaker John Boehner said House Republican leaders are working with our members on a way forward. Meanwhile, the White House said President Barack Obama will meet with House Democratic leaders at 3:15 p.m. Eastern. U.S. stocks rose on Monday , but traded lower on Tuesday . Asia markets closed mostly higher . German ZEW data German data further provided investors with a reason to celebrate. The ZEW sentiment survey showed that the economic expectations indicator rose further above its long-term average in October, to 52.8 points from 49.6 points in Septemberbeating economists expectations for an unchanged reading. Germanys DAX 30 index /quotes/zigman/2380246 DX:DAX +0.92% jumped 0.9% to 8,804.44, for the highest closing level on record. The U.K.s FTSE 100 index /quotes/zigman/3173262 UK:UKX +0.64% picked up 0.6% to 6,549.11, while Frances CAC 40 index /quotes/zigman/3173214 FR:PX1 +0.78% rose 0.8% to 4,256.02. Morgan Cazenove lifted the equipment-rental company to overweight from neutral.

The current price is solidly above both a 50-day and a 200-day moving average. The 19% gains off of the June lows arent too shabby either, wrote Gordon. SCZ allocates over 49% of its combined weight to Japan and the U.K., but the ETF does have Eurozone exposure via Germany, France and Italy. The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product. @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page . Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes.