Last edited Thu Jan 5, 2012, 07:08 AM - Edit history (1)
European stocks (SXXP)fell, erasing earlier gains, as banks retreated before a French bond sale. U.S. index futures and Asian shares also declined...
... The Stoxx 600 yesterday retreated from a five-month high on concern that the region’s banks will need to raise more capital to weather the sovereign-debt crisis. France plans to sell as much as 8 billion euros ($10.4 billion) of debt today in the country’s first test this year of investor appetite for its bonds amid threats of a downgrade of its AAA rating by credit-rating companies.
Service industries in the U.S. probably grew in December at the fastest pace in three months, showing the economy picked up as 2011 drew to a close, economists said before a report today.
The Institute for Supply Management’s index of non- manufacturing (NAPMNMI) industries, which account for about 90 percent of the economy, rose to 53 from 52 in November, according to the median projection of 65 economists surveyed by Bloomberg News. The number of applications for jobless benefits (INJCJC) fell last week, another report may show.
In Greece, Prime Minister Lucas Papademos said that deeper cuts in incomes are the only way for the country to remain in the euro area and receive more financing from international creditors. These steps are necessary to avert an economic collapse that may otherwise come as soon as March, he said.
/... http://www.bloomberg.com/news/2012-01-05/european-stock-index-futures-are-little-changed-before-french-bond-sale.html
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