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European stocks down
European stocks down amid events in the U.S. and not the most positive macroeconomic data on the Eurozone.
Barack Obama has developed a plan that would avoid the "fiscal cliff." The U.S. President will insist on increasing tax revenues to $ 1.6 trillion over the next ten years. Double the amount previously agreed. These actions cause the fears of investors, as they can lead to slower economic growth.
Eurozone GDP in III quarter decreased by 0.1% with a projected decline of -0.2%. Eurozone CPI was as expected, retail sales in October in the UK fell by 0.8% (forecast -0.1%).
FTSE 100 5,705.43 -16.58 -0.29%
CAC 40 3,395.94 -4.08 -0.12%
DAX 7,071.13 -30.79 -0.43%
BP Plc shares were down 0.6%. This sparked speculation that BP, intends to plead guilty in an accident on the Deepwater Horizon in exchange for a waiver of prosecution in the future. Later, the company confirmed that negotiations with the authorities.
Capitalization of Zurich Insurance Group fell by 4.1%. Quarterly profit of Switzerland's largest insurer was below forecasts forecasts.
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