European stocks mostly eased despite a report that said the
European Central Bank may move to negative deposit rates if needed
to stimulate the economy.
Bloomberg News reported the ECB is considering a
smaller-than-usual cut to its deposit rates that would bring the
rate into negative territory for the first time. Policy makers
would reduce the deposit rate to minus 0.1% from zero if warranted
by the economic outlook, the report said.
Federal Reserve Chairman Ben Bernanke said in a speech late
Tuesday the Fed will probably maintain its target interest rate
long after ending its monthly bond purchases.
Around the region, Bank of England said in its November
policy-setting meeting members expressed uncertainty over the
"durability of the recovery and the extent to which supply growth
would keep pace with demand," while it also said it sees few
In ADR news, Diageo plc's (
) CEO Ivan Menezes said uncertainties in the global economy will
drag on sales growth.
Alcatel Lucent (
) announced a capital increase. Bank of America Corp. and JPMorgan
Chase & Co. placed 660 million preferential subscription rights
to the company's shares to institutional investors. The rights are
linked to the network-equipment maker's American Depositary
Receipts. On Tuesday, The Wall Street Journal, citing unnamed
sources, said Nokia (
) would not go ahead with a deal between the Nokia Solutions and
Network business and ALU. Neither NOK nor ALU would comment to the
GlaxoSmithKline PLC (
) said it has agreed to sell 28.2 million shares in South African
company Aspen Pharmacare Holdings Ltd. (APN.JO) for 7.06 billion
rand ($696.5 million), leaving it with 56.5 million shares, or
12.4% of the company.
The FTSE-100 was last down 0.25% at 6,681.08, the DAX up 0.1% at
9,202.07 and the CAC-40 down 0.09% at 4,268.37.
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