The pan-European FTSEurofirst 300 index of top shares provisionally closed 0.6 percent lower at 1,017.87 points after rising to a high of 1,025.17 earlier in the session. The Dow Jones industrial average lost 17.24 points, or 0.16 percent, to end at 10,433.71. The Standard & Poor’s 500 Index dropped just 0.59 of a point, or 0.05 percent, to 1,105.65. The Nasdaq Composite Index fell 6.83 points, or 0.31 percent, to 2,169.18. The benchmark Nikkei gained 40.06 points to 9,441.64 after earlier falling as low as 9,366.33, its lowest level since mid-July. The Topix added 0.5 percent to 833.29.

Yesterday, the European Commission closed antitrust proceedings against Qualcomm. Yesterday, a survey showed a rise in output helped German manufacturing activity expand for the second month running in November, driving an increase in private sector growth in Europe’s largest economy. Amid new signs of the euro-zone economic recovery, Germany continues to prepare for a possible relapse as other governments plot exit strategies. China’s largest listed 11 banks are seeking to raise tens of billions of dollars in extra capital. Official statistics revealed the world’s biggest economy grew by less than originally thought in the third quarter; America’s Federal Reserve upped its forecast for economic growth next year to a range of 2.5 per cent to 3.5 per cent as. According to official figures released yesterday, the US economy grew by 2.8 per cent between July and September.

Due for release today there is the EUR German Gfk Consumer Confidence Survey, GBP Gross Domestic Product, GBP Private Consumption, GBP Government Spending, GBP Exports, GBP Imports and GBP Index of Services, USD Durables Ex Transportation, USD Personal Spending, USD Personal Consumption Expenditure and USD New Home Sales.

 By Greg Secker