European stock market jan 30 2012

European stock market jan 30 2012 ; Futures on the Euro Stoxx 50 Index lost 0.9 percent to 2,421 as of 7:16 a.m. in London and FTSE 100 Index contracts declined 0.6 percent. Futures on the Standard & Poor’s 500 Index expiring in March fell 0.6 percent and the MSCI Asia Pacific Index retreated 0.8 percent.

The outlook for economic growth in Europe in 2012 is not a healthy one and consensus forecasts for earnings-per-share growth likely do need to be adjusted downwards

European Union leaders are gathering for their first summit of 2012 as a deteriorating economy and the struggle to complete a Greek debt writeoff risk sidetracking efforts to stamp out the financial crisis. EU chiefs arrive in Brussels about 2 p.m. today to put the finishing touches on a German-led deficit- control treaty and endorse the statutes of a 500 billion-euro ($661 billion) rescue fund to be set up this year.

The benchmark Stoxx Europe 600 Index rallied 20 percent from its most-recent low on Sept. 22 through Jan. 26, meeting the analysts’ definition of a bull market. Investors have poured money into stocks as the U.S. economy maintained its recovery and speculation grew that the euro area will contain the sovereign-debt crisis and China may ease monetary policy.

Still, the Stoxx 600 posted a loss last week, snapping a five-week rally, after a report showed the U.S. economy grew slower than forecast in the fourth quarter and talks continued between Greece and its creditors for a debt-swap deal.

Greece and its private bondholders said Jan. 28 they expect to complete a deal in coming days after creditors signaled they would accept European government demands for a bigger cut in their debt holdings. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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