The FTSEurofirst 300 index of leading European shares closed lower at 1,013.15 points. On Friday, European shares closed lower, with banks falling as ongoing concerns over tough new Basel regulations weighed. The Dow Jones industrial average gained 20.63 points, to 10,328.89. The Standard & Poor’s 500 Index rose 6.39 points, or 0.58 percent, to 1,102.47. The Nasdaq Composite Index added 31.64 points, or 1.45 percent, to 2,211.69. The Nikkei climbed 41.42 points to 10,183.47, which was its highest finish since Oct. 27, on the other hand the Topix edged down 0.2 percent to 891.48.

Yesterday, the governor of the central bank said that in a year or two Irish banks that receive state capital will be strong enough to sell their possible majority government stakes to foreign investors. Yesterday, Algeria’s energy minister Chakib Khelil said that OPEC will keep supply unchanged when it meets tomorrow in Angola. British businesses have labeled the Copenhagen climate summit as a “missed opportunity” as concerns are growing that London’s leading position in the carbon trading market is under threat.

Due for release today is the CAD Core Retail Sales m/m and the NZD Current Account.

By Greg Secker

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