European stocks (SXXP) declined for a second day as concern that the region’s banks will have to raise capital overshadowed a report showing that U.S. companies added more workers to their payrolls than economists had predicted.
UniCredit SpA, which announced a rights offer at a 43 percent discount yesterday, slumped to a 19-year low. Societe Generale SA dropped 5.4 percent after announcing it will cut corporate- and investment-banking staff. In the U.S., private employers added 325,000 workers to payrolls in December, according to a report from Roseland, New Jersey-based ADP Employer Services. That was the biggest increase in records going back to 2001. The median projection in the survey called for an advance of 178,000.FTSE 5,624 -44.07 -0.78%, CAC 3,150 -43.29 -1.36%, DAX 6,100 -11.86 -0.19%
Societe Generale, France’s second-largest lender, retreated 5.4 percent to 16.08 euros after saying it will cut about 1,580 jobs at its corporate and investment bank, about 10 percent of the unit’s total staff.U.S. stock futures fell as concern about Europe’s debt crisis and lower-than-estimated earnings forecasts at J.C. Penney Co. and Tesoro Corp. overshadowed improving jobs data.
Futures pared losses after ADP Employer Services said payrolls increased by 325,000 last month, topping the median economist forecast for growth of 177,000 jobs.
World markets:
Nikkei 8,489 -71.40 -0.83%
Hang Seng 18,813 +86.10 +0.46%
Shanghai Composite 2,148 -20.94 -0.97%
FTSE 5,657 -11.37 -0.20%
CAC 3,172 -21.78 -0.68%
DAX 6,120 +8.13 +0.13%
Crude oil: $102.98 (-0,23%).
Gold: $1606.00 (-0,42%).