FTSE Eurofirst 300 index dropped 1.0% to 994.6.
DJIA gained 0.5% or 51.1 points to 10,337.1. NASDAQ rose 0.5% or 10.7 points to 2,183.7. S&P 500 index closed 0.4% higher, at 1,096.0.
Nikkei 225 index is trading 1.6% lower, at 9,848.3.

In Asia, crude oil for January delivery is trading 3 cents lower at $70.64 per barrel.

Other European markets finished lower yesterday, with the FTSE Eurofirst 300 index ending at the lowest close since 30th November, as investor’s appetite for riskier assets took a beating.  Spanish banks, Santander and BBVA, lost 4.1% and 4.0% respectively, after ratings agency, Standard & Poor, downgraded its outlook on Spain from “Stable” to “Negative, amid fears over the country’s economic growth and high fiscal deficit. Greek Banks, National Bank of Greece, Piraeus Bank, Alpha Bank and EFG Eurobank, fell between 6.6% and 8.4%, amid continuing concerns over the country’s public finances. Drug makers, Roche Holding, Sanofi-Aventis and Novartis, paced declines, amid reports that EU’s antitrust authorities had raided several pharmaceutical companies, on suspicion of misusing a dominant position in the market. However, the losses were limited, following a higher-than-expected rise in Germany’s exports in October. FTSE Eurofirst 300 index dropped 1.0% to 994.6. German DAX Xetra 30 slipped 0.7% to 5,647.8. French CAC-40 edged down 0.7% to settle at 3,757.4.  

US markets ended higher, as risk appetite returned among investors, lifting financial, technology and material stocks. Financial stocks, Capital One and Zions Bancorp, rose 2.7% and 1.8% respectively, after US Treasury Secretary, Timothy Geithner, stated that the government would extend $700 billion financial bailout fund till October 2010. 3M rallied 3%, after Citigroup upgraded the stock to “Buy” from “Hold” citing the likelihood of better financial returns and outperformance in 2010. Apple climbed 4.2%, after Oppenheimer stated that the company is preparing to launch a tablet personal computer till April 2010. Investor sentiment took a further boost, after US total wholesale inventories surpassed market expectations and rose 0.3% in October, reversing a 12-month declining trend. DJIA gained 0.5% or 51.1 points to 10,337.1. NASDAQ rose 0.5% or 10.7 points to 2,183.7. S&P 500 index closed 0.4% higher, at 1,096.0.  
Posted by Greg Secker

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