Fall in US Stocks on concern debt crisis in the European Nations intensify - Bloomberg

A trader works on the floor of the New York Stock Exchange on June 23, 2011 in New York. Photographer: Spencer Platt/Getty Images

US stocks fell this week, giving the Standard & Poor 500 Index its seventh loss in eight weeks, in the concern that the European debt crisis is not contained.

JPMorgan Chase & Co. (JPM) and Bank of America Corp. (BAC) fell at least 1.5% after European Central Bank President Jean-Claude Trichet said on June 22, that the crisis threatens to infect banks. Micron Technology Inc. (MU) sank 7.9%, mostly in the & S P 500 after the Declaration of income and profits that missed analysts forecasts. Red Hat Inc. (RHT), the largest vendor of operating system Linux, jumped 9.3% after beating estimates with its earnings forecasts.

The & S P 500 fell 0.2% to 1,268.45 and dropped three consecutive days at the end of the week. The measure fell by 7 percent since April 29. The Dow Jones Industrial Average fell 69.78 or 0.6%, to 11,934.58 points this week.

"Everyone is looking to digest the European debt situation is going to shake,", said Jason Pride, Director of Glenmede Philadelphia investment strategy, which manages approximately $ 20 billion. "They play a costly game of chicken with the Greece because the inconvenience of passing is not a bailout for the country plan is indeed a collapse of the financial system.".

Equities is fell after Investors Service of Moody said, on 23 June, that it may downgrade 13 Italian lenders because they would be vulnerable to a decline in the Government's credit rating. Bonds rose in Spain and Italy. He said signals of risk for financial stability in the euro area are blinking "red", as the debt crisis in countries such as the Greece threat of infecting banks around the region.

"On a personal basis I would say yes,"this is red"," Trichet said June 22 in Frankfurt, after a meeting of the European systemic risk Board, referring to planned flight "" giving group to monitor risks. "The message of the Council is that" the relationship between banks and the problems of the debt "is the most serious threat to financial stability in the European Union."

The & S P 500 has fallen since the escalation to a maximum of almost three years, on 29 April, in the concern of the sovereign debt crisis and the economic data lower than estimates of Europe. The tonnage of reference for us stocks increased by 0.9% this year.

The Chicago Board Options Exchange volatility Index, which measures the cost of the use of options such as an insurance against declines in the & S P 500 fell 3.4% 21.10, reduce three consecutive weeks of gains.

US stocks shares rose the most since April 21 June in investor optimism that a vote of confidence to the Greek Prime Minister George Papandreou is to determine how long the nation can win international support to consolidate its finances. Yesterday, the leaders of the European Union is committed to support the Greece if the nation approves austerity measures.

Data from the United States.

Officials of the Federal Reserve lowered their forecasts on 22 June for growth and employment in 2011 and 2012, the projection of the economy will grow 2.7 to 2.9% this year, down from 3.1% to 3.3% in April projection. Central bankers said U.S. inflation, excluding food and energy will be a little higher than previously forecast. They said that the pace of recovery is likely to "pick up over the next few quarters."

Purchases of new U.S. homes fell in may for the first time in three months, showing that the industry is struggling to grow. Sales fell by 2.1% to an annual 319,000 pace last month, the Commerce Department figures showed 23 June.

Index Bank KBW, which tracks 24 companies, declined 2.4 percent this week. JPMorgan, the second largest US Bank by assets, fell by 3.2% to $39.49. Bank of America, the largest U.S. lender by assets, fell by 1.5% to $10.52.

Micron fell 7.9% to $7,21 as the major manufacturer of chips U.S. memory the computer reported revenues and profits that drops below the forecasts of analysts.

The price of dynamic random access memory, or DRAM, to personal computers increased diablo² as supplies and demand for portable consumer and desktop PC manufacturers remained sluggish, the company said. Orders are also slow for chips used in inexpensive mobile phones, pushing towards the low price, said Micron, Chief Executive Steve Appleton.

Walgreen Co. (WAG) collapsed 7.3% to $41.39, helping to send the S & P 500 Staples index consumption decrease of 1.7%, the most among the 10 groups. The largest pharmacy chain U.S. said that he did not renew a contract of more than $ 5 billion in annual sales with Manager of pharmaceutical benefits Express Inc. of Scripts, after negotiations collapsed. The agreement will end on January 1.

Procter & Gamble Co. (PG), most big company consumer in the world, fell by 3.3% to $62.59 for the second largest decline in the Dow average.

Boeing Co. (BA) decreased the most in the Dow, sliding from 3.9% to $71.26. American Airlines AMR s Corp is in talks with Airbus SAS on the purchase of at least 100 aircraft of narrow fuselage, a possible break his confidence for a long time on Boeing jets, said two people familiar with the case.

Energy companies in the S & P 500 dropped 1.4 per cent in group a, the second largest weekly loss, as the crude oil for August delivery fell to $91.16 a barrel in New York after the International Energy Agency, June 23, has announced the release of 60 million barrels. Exxon Mobil Corp. (XOM), company of greater energy in the world by market value, withdrew to 2.8 per cent to $76.78. Chevron Corp. (CLC), the second largest oil company U.S. decreased by 1.3% to $97.90.

Red Hat has risen from 9.3% to $45.03, most in the S & P 500, after it said profits for the year 2012 will be as much as $1 a share, beating the average analyst estimate of 96 cents per share from a survey of Bloomberg.

CarMax Inc. (KMX), the largest seller of cars U.S., reached 9.2% $31.93 after first-quarter sales of used cars rose by 7.5% to 108,511 the same period a year earlier. Income net increased by 25% to 55 cents per share, compared to the forecast of average profit of 47 cents per share in a survey of 13 analysts Bloomberg.

The S & P 500 materials Index (S5MATR), which tracks 30 companies, have increased by 2.4%, the most among the 10 groups. Chemical manufacturer DuPont Co. jumped 4.8% to $51.96, Caterpillar Inc. (CAT), more than material construction manufacturer, increased from 4.2% to $100.01 and Alcoa Inc. (AA), the U.S. aluminium producer, added 3.5 per cent to $15.23.

To contact the reporters on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net. Cecile Vannucci in New York at the cvannucci1@bloomberg.net

To contact the responsible editor of the story: Nick Baker at the nbaker7@bloomberg.net

Wen said that China is an investor in the long term in European debt, confident Euro - Bloomberg

Prime Minister Wen Jiabao said that China will continue to invest in Europe's sovereign bond market, offering a vote of confidence in the region résonnée by the debt crisis.
"China has increased the purchase of bonds in some European countries, and we do not reduce our euro Fund," Wen said yesterday the British Broadcasting Corp. in an interview. "I think that these show our confidence in the economy of Europe and the euro area.".
Wen, 3 billion of the country, including in foreign currency reserves are high, is now due to meet with U.K. Prime Minister David Cameron in London as European policy makers enter another week of talks on how the Greece can be avoided by default. Greek lawmakers vote this week on a package of austerity required to obtain more international aid, while elsewhere on the continent, Governments negotiate with banks on how they can help the country.
China's leader is visiting Europe as renewed investor concern the ability of the nations of the euro area – to beat the debt crisis which has occupied the minds of officials from more than a year. European stocks fell for an eighth week last week, the longest stretch of losses since 1998, and the euro weakened to a case against the Swiss franc in Greece speculation will be unable to pay its bills.
"China is ready to work with Europe to share opportunities, address challenges and achieve common development, and make unremitting efforts for stable development of the global economy and a depth of China-Europe ties," Chinese State Xinhua News Agency quoted Wen as saying that on 25 June.
Support of the Spain
This is not the first time Wen expressed a support for Europe's cash-strapped nations. He said in April that China would invest in the bonds and the Spain savings bank industry and will continue to buy debt.
The visit of Wen will help "convince the market that China will provide a back-stop contagion" and therefore lend support to the euro, Douglas Borthwick, head of Foreign Exchange based in Stamford, Connecticut Faros Trading, said in a report on 20 June.
China plays a role of "white knight" in helping Europe and itself purchase of good will to buy more sensitive European assets such as technology firms, according to Faros Trading. Asian country purchases of debt in euro also helps diversify its dollar reserves, said the dealer.
Contrast positive comments from critical Wen week last to the strategy of Europe by other international decision makers. US Secretary of Treasury Timothy f. Geithner said that the region should speak of a "clearer and more unified voice", while that the Bank of England Governor Mervyn King said that he must realize it is dealing with a solvency problem not liquidity.
Today talks in London will focus on trade, the British Government seeks to boost trade with China to 100 billion dollars by 2015, Office of Cameron said in a statement. Downing Street said the two countries also are defined to make it easier for British companies branch Beijing and Shanghai and that China will open its market to exports of poultry U.K. again.
Wen, who visited the home town of William Shakespeare, Stratford-Upon-Avon and visited a car factory owned Chinese yesterday, will also deliver a speech before you go to Germany. In Budapest, he promised to buy a "definite" Hungarian obligations and extend a loan of 1 billion $-euro ($1.4 billion) through the development of the China State Bank to fund projects in Hungary.
To contact the reporters on this story: Zoltan Simon Budapest to zsimon@bloomberg.net Simon Kennedy in London at skennedy4@bloomberg.net.
To contact the responsible editors of this story: Craig cstirling1@bloomberg.net Stirling. Balazs Penz in bpenz@bloomberg.net;

European stocks higher after the sale of bond of Portugal (AFP)

London (AFP) - European stock markets were higher Wednesday as zone euro debt worries were soothed by auction link successful record economic growth for the Germany and the Portugal, said analysts.

Index FTSE 100 in London main actions increased by 0.33% to 6,034.04 points in midday trading.

DAX 30 Frankfurt rallied 1.23% at 7,027.02 points and Paris CAC 40 has acquired from 1.25% to 3,910.09.

The Lisbon market was 0.86% while Madrid has climbed to more than 3.46%, driven by an increase in the banks of the shares.

Portugal paid lowest on long-term debt rates of 1.25 billion euros ($1.62 billion) Wednesday it raised in a test critical for its credibility and the wider area in euro capital markets.

The DMU Portuguese, said the performance or the rate of return for investors in bonds coming due June 2020 descended to 6.716%, passing from 6.806% during a similar sale in November.

However, bonds coming due October 2014 offering also, performance is passed to 5.396%, until suddenly 4.041 p paid November — suggesting that short-term Outlook was more guarded.

"The Portuguese auction was well received," RIA Capital Markets analyst Nick Stamenkovi? told AFP.

"Not only did Portuguese treasure to draw the maximum provided, but performance was below November." This should encourage a gathering of relief for the Portuguese sovereign bonds. »

EU diplomats say that Portugal comes under strong pressure from several European countries to accept external aid in the middle of the concern that a debt crisis fresh euro area may spread in Spain, a much larger economy.

For its part, Spain also provides its first issues long term of the year on Thursday, to sensitize the two to three billion euros over 5 years bonds.

The great fear is that, if the bond rates go too high, the Spain may be forced to seek an international rescue - a crisis with global implications that would dwarf the bail out the Irish and Greek and possible similar to the Portugal action.

Debt auction Wednesday marked first foray of the Portugal in bond, since the Ireland was forced to seek a November EU - IMF rescue plan.

Prior to the auction on Wednesday, the dataset for the great economy of Europe in Germany showed German growth hit a record 3.6% last year.

Germany incurred by 4.7% in 2009 in its worst post-war recession of bounce to show the strongest growth since its reunification in October 1990.

We've grown twice the average of the European Union"in 2010, said Rainer Bruederle economy Minister.

Asian markets stock edged upward Wednesday, taking a cautious approach to the debt crisis in Europe, but with the rise in the prices of products supporting resource stocks.

Actions were usually stimulated by gains on Wall Street and the Japan announced that it will buy bonds of a eurozone Rescue Fund to help fund the bailout of the Ireland and support the block of debt-hit, said analysts.

U.S. stocks posted gains moderate Tuesday, supported by a positive start to the season of quarterly earnings.

European stocks less close after data jobs in the United States (AFP)

London (AFP) - European stocks fell after only the most recent Friday data showing low U.S. jobs hopes for a strong economic recovery, said dealers.

FTSE 100 index of London closed main actions 0.59% at 5,984.33 points, to Paris du CAC 40 fell 1.0% to 3,865.58 points and at the Frankfurt DAX slid 0.48% to 6,947.84 points.

Tempered Amsterdam 0.13%, Milan has dropped 0.46%, stocks dragged Swiss 0.54% and Brussels ended down 0.77%.

Stocks plunged 3.02 percent to Lisbon after the yields on government bonds Portuguese hit New Records, a few days before that the country plans to try to place long-term debt for the first time this year.

European markets have fallen low morning trading before the release of U.S. jobs data and fell more thereafter.

The Department of labor of the United States has published its monthly unemployment report closely monitored which investors had hoped would confirm recent data showing that the U.S. economic recovery taking speed.

But the data offered a mixed picture.

The unemployment rate has strongly to 9.4% in December from 9.8% in November to its lowest level since May 2009 and estimate better than average of 9.7%.

But at the same time, the economy has created 103,000 jobs, much less than 150,000 forecasts by analysts.

A report earlier in the week by the firm of ADP showing a sharp increase in sector private hire at 300 000 in December raised expectations that the U.S. economic recovery could finally begin to replace the jobs lost.

"It's a cold (ish) shower after the excitement generated by ADP," reported earlier this week a stellar rise in private hiring in December, said Ian Shepherdson for high frequency economics.

"Acceleration of the underlying trend but progress is quite slow," he said in a note to customer.

Chairman of the Federal Reserve Ben Bernanke warned that the current rate of job creation was insufficient and meant "long", will require right of the labour market.

"Economic recovery began a year ago and a half East continues," the pattern of the Fed said in testimony prepared for the Congress, "Although, to date, at a pace that was insufficient to reduce significantly the rate of unemployment."

"Probably a considerable time be necessary until unemployment rate returned to more normal levels."

Wall Street has opened the dish and then dragged down.

The Dow Jones Industrial Average fell 0.31% at 11,661.40 points around 1700 GMT, while the index S & P 500, a broader measure of the market, had fallen by 0.37% at 1,269.14 points.

Tech-rich Nasdaq was off the coast of 0.39% to 2,699.29 points.

New year Asia stocks rally showed signs of discolouration Friday in the middle of prudence before data from the United States, while Tokyo's Nikkei hit a top eight months with a stronger dollar, giving boost to auto stocks.

Nikkei index in Tokyo edged 0.11 percent for its end above since May 13, supported by the car manufacturers such as Toyota and Nissan as a strong dollar boosted the US sales prospects.

However, Hang Seng Hong Kong dropped 0.42%, which broke a gathering of seven days. The two exchanges are student to approximately 3 per cent in the week.

Sydney dropped 0.42% at the end of the week in which minor coal have been affected by the catastrophic floods and of commodities slid prices.

Intel offers concessions in the European Union on McAfee

By Jim Finkle and Bate Felix

BOSTON/BRUSSELS | Thursday 6 January 2011 4 pm EST.

BOSTON/Brussels (Reuters) - Intel has offered concessions to win antitrust clearance from European Union for the purchase of McAfee Inc. Security software maker $ 7.7 billion.

Shares of McAfee, the manufacturer of security software after Symantec Corp., no. 2 increased 1.8% on the news Thursday, while Intel shares dropped by 0.8%.

The Commission, the 27-nation EU regulatory oversight body said on its website that it has extended the date limit for January 26, 12 January after commitments to address competition problems have been submitted.

"We continue to work with the Commission," Intel spokesman Chuck Mulloy said to Reuters. "Our expectation continues to be that we get this case ended sometime in the first half of 2011."

He did not comment on concessions, Intel has made in its efforts to win approval of what would be the largest ever acquisition.

The commission is concerned that Intel may incorporate elements of fight against the virus McAfee technology into its widely used microprocessor for personal computers, chips giving him an unfair advantage over rivals, according to two people familiar with the case.

John Briggs, an antitrust expert based out of Washington with Axinn Veltrop Harkrider LLP, said that he suspected that Intel has agreed to take steps to ensure competing McAfee could still on computers until they were sold to consumers and businesses.

Antivirus software, makers of frequently forge trafficking of PC manufacturers to regain their software on desktop PCs. Analysts say it is one of the roads more efficient by which they sell their software.

"I am reasonably confident that Intel has agreed to do so is to give competitors access to McAfee for desktop computers that has already built in microprocessor of McAfee."

December 21, Intel already won clearance for the agreement of the Federal Trade Commission in the United States.

Plan to buy Intel McAfee highlights how security has become a concern in a world of devices enabled on the Web. McAfee swallowing give Intel to sell high-profit security software alongside its customers of traditional PC microprocessors.

Analysts say that intel could differentiate its processors per chip design speed up scans of security typically conducted by McAfee software or technology which makes it less vulnerable gadgets to hacker attacks.

Are concerned European regulators that could create an unfair advantage for Intel over rivals such as Symantec, according to sources familiar case.

(Additional by Noel Randewich in San Francisco.) (Editing by Gary Hill)

European markets posts Modest Gains, Wall Street Journal)

LONDON - European stocks began the week with small earnings Monday, with core avant-garde, the relief that the Bank of China has not announce a widespread interest rates increase expected.

Stoxx 600 Europe index recently was 0.4% to 277.41. FTSE 100 in London was increased by 0.7% to 5853.28, Frankfurt DAX was 0.3% higher at 7028.02 Paris CAC-40 rose by 0.6% to 3881.97. To a decision of China, base-resources European Stoxx 600 index had increased from 1.3% to 624.49.

"Lack of torque may be due to the temporary nature of food inflation, that most economists suggest can be controlled by slowing economic growth, said Gerard Lane, Coast capital equity analyst."

"Increasing crunch for months, a path confirmed by President Hu Jintao during the weekend, the policy is expected to continue in 2011." "Unless that growth slowed considerably, we still believe that the economic progress of China will remain favourable for minors and luxury-end consumer goods producers."

However, problems of sovereign debt of the euro area is far from finished with a Union European Summit which takes place this week to discuss the details of the European body stability. "Focus swings to the euro as the heads of State meet to thrash the specific details of the arrangements"burden sharing"will be behind any rescue package structure in the future", said Ian Williams at Altium.

Earlier inventories, ASIES more closed Monday, with taken Sydney market supported by Bank stock gains, while China shares rallied as investors were relieved that there is now greater clarity on the policy front.

Nikkei Stock average the Japan increased by 0.8%, S & P/ASX 200 0.2% acquired Australia and composite ABN Korea South added at 0.5%. Shanghai Composite index surged 2.9% while the Hang Seng Hong Kong index increased by 0.7%.

Machinery and energy has led to a gathering of relief in China after Beijing said Friday it will raise reserve requirement ratio of banks by half a percentage point, the sixth such rise this year, enhance inflationary. The increase will enter into force on 20 December.

Reserve requirement increased advance data last Saturday showing inflation in November at the higher rate 5.1%—the two years – but avoided Beijing came down the path to increase interest rates as some have speculated.

More closed Friday as Wall Street stocks showed us consumers were more optimistic about the Economic Outlook in early December, while U.S. exports in October has elapsed at their highest level for more than two years.

Blue-chip stocks posted us their largest earnings week Friday, closing a quiet week modestly supported brighter economic data.

The Dow Jones Industrial Average increased by 0.4% to 11410.3. Index and the Nasdaq Composite added 0.8% to 2637.54 standard & Poor 500-stock increased by 0.6% to 1240.4.

Currency, the dollar strengthened against the euro and the yen in advance of the meeting of the Federal Reserve policy setting later this week.

The euro traded at $1.3224, of $1.3228 late Friday in New York. The dollar was 84,30 yen yen 83.95 place.

In addition, March bund futures decreased 0.40 to 124.58 following downward United States Treasurys Friday. Market will be eye weekly-purchase obligations given the European Central Bank no later than Monday, which will include buying December 2 and 3 December, when the ECB was reportedly aggressively buy bonds Irish and Portuguese.

Spot Gold recently recovered $1,392.60 one ounce troy 6.50 $ near her New York. January Nymex crude oil futures rose to 62 cents to $88.41 per barrel.

There is no economic data note due Monday.