European markets and US futures down on concerns over US fiscal cliff

By FXstreet.com | December 21, 2012 AAA

FXstreet.com (Barcelona) - The German DAX 30 (-0.59%), the French CAC 40 (-0.52%), the Italian FTSE MIB (-0.96%), the Spanish IBEX 35 (-0.59%) and the British FTSE 100 (-0.80%) lose value along with most equity indexes in Europe as fiscal cliff negotiations drag and become tense ahead of the last week of 2012.



EU's Rehn said that more French deficit cuts are not essencial, but labor market pension reforms must be made. The Portuguese Prime Minister told to Parliament that Europe made progress in 2012.



The Italian consumer confidence rose from 84.8 to 85.7 in December, beating consensus of 85.1. The German GfK consumer confidence eased from 5.8 to 5.6 in January, disappointing expectations of 5.9. The French Business Climate rose from 88 to 89 in December, as expected.



Futures for the American S&P 500, Nasdaq 100 and Dow Jones are falling by -1.30% ahead of the last NY opening of the week, with US durable goods and Reuters/Michigan consumer sentiment due soon while investors are increasingly concerned about the US 2013 budget negotiations.



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