Today, European shares rose in early trade, banks were among the strongest performers. At 0812 GMT, the FTSEurofirst 300 index was up 0.3 percent at 1,021.12 points. The Dow Jones industrial average dropped 11.56 points, or 0.11 percent, to 10,489.49. The Standard & Poor’s 500 Index slipped 0.88 points, or 0.08 percent, to 1,113.23. The Nasdaq Composite Index gained 2.35 points, or 0.11 percent, to 2,214.45.The Nikkei added 93.93 points to 10,177.41, which was its highest finish since October 27. The Topix added 1.5 percent to 898.29.

Yesterday, the Greek Prime Minister George Papandreou held rare crisis talks, a day after he announced spending cuts. Trade unions have called for a 24-hour nationwide strike for tomorrow in order to undermine efforts to push through reforms. German investor confidence declined for a third consecutive month, which raised concerns about the outlook for recovery. The ZEW index fell to 50.4 in December from 51.1 the previous month. For the Eurozone, the economic expectations fell in December by 3.8 points to 48 points.

Due for release today is the GBP Claimant Count Change, USD Building Permits, USD Core CPI, USD FOMC Statement, USD Federal Funds Rate and NBNZ Business Confidence.

By Greg Secker

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