Economic Calendar

Friday, January 20, 2012

Stocks in Europe Drop From Five-Month High as Euro Slips; S&P Futures Fall

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By Stephen Kirkland - Jan 20, 2012 4:11 PM GMT+0700

Jan. 20 (Bloomberg) -- Peter Garnry, an equity strategist at Saxo Bank A/S, discusses the outlook for global stocks and his recommendation of Lockheed Martin Corp., Microsoft Corp., Lorillard Inc., and Ross Stores Inc.. He speaks from Hellerup, Denmark, with Linzie Janis on Bloomberg Television's "Countdown." (Source: Bloomberg)

Jan. 20 (Bloomberg) -- Dorris Chen, head of China research at BNP Paribas SA, talks about the nation's economy and stock market. She speaks from Shanghai with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)

Jan. 20 (Bloomberg) -- Diane Lin, a fund manager with Sydney-based fund Pengana Capital Ltd., talks about the outlook for Asia financial markets, China stocks and her investment strategy. She speaks with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)


European stocks dropped from a five- month high and the euro weakened as talks between Greek officials and private creditors entered a third day. U.S. index futures retreated and natural gas fell for a 10th day.

The Stoxx Europe 600 Index lost 0.4 percent at 9:05 a.m. in London, and Standard & Poor’s 500 Index futures slipped 0.3 percent. Natural gas fell 0.3 percent, the longest losing streak since August 2009. The euro depreciated 0.3 percent to $1.2930, while the Dollar Index added 0.3 percent to 80.29.

Markets are reversing after the best start to the year for the S&P 500 and European shares in 15 years. Greek officials and private creditors will meet to seek agreement on a debt swap after “long and substantial” discussions yesterday, Finance Minister Evangelos Venizelos said yesterday.

The euro was little changed at 99.87 yen, while the dollar climbed 0.2 percent to 88.24 yen. The Swedish krona weakened 0.6 percent to 6.7889 per dollar, snapping a four-day gain. The dollar advanced versus all but one of 16 major peers tracked by Bloomberg.

Natural gas fell as much as 1.7 percent to $2.283 per million British thermal units, the lowest price for a most- active contract since February 2002. Copper dropped 0.6 percent to $8,317 a metric ton and oil in New York declined 0.6 percent to $99.82 a barrel.

To contact the reporters on this story: Stephen Kirkland in London at skirkland@bloomberg.net; Lynn Thomasson in Hong Kong at lthomasson@bloomberg.net;

To contact the editor responsible for this story: Stuart Wallace at Swallace6@bloomberg.net



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