Feb 10
8
Morning Call by Greg Secker
The FTSEurofirst 300 index of leading European shares fell 2.1 percent on Friday to notch up its biggest weekly decline in 11 months on intensified worries about euro zone sovereign debt. The Dow Jones industrial average rose up 10.05 points, to 10,012.23. The Standard & Poor’s 500 Index ended up 3.08 points, to 1,066.19. The Nasdaq Composite Index rose 15.69 points, closing at 2,141.12. The Nikkei lost 105.27 points close at 9,951.82 which was its first close below 10,000 since Dec. 10. The Topix fell 1% to close at 883.01
The Eurozone faces further challenges amid further concerns over budget deficits in Greece, Spain and Portugal. At the weekend finance ministers from the G7 countries met in Canada, they insisted on a solution to the problems rather than an IMF rescue. Despite a rising budget deficit, Tim Geithner has insisted that the US “will never” lose its top credit rating,
Due for release today is the CHF Retail Sales y/y and the CAD Housing Starts.
By Greg Secker
