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LONDON (AFP) – London's main stock markets weakened in opening deals on Wednesday, as many investors took profits after hefty gains the previous day.

The FTSE 100 index of top companies shed 0.53 percent to stand at 5,777.93 points.

Shares had jumped higher on Tuesday, helped by a compromise on tax and employment policies between US President Barack Obama and his Republican opponents seen as a boost to the economy.

Dealers said an apparent easing in the eurozone debt crisis and Ireland's draconian 2011 budget added to the positive tone, with miners also boosted by sharp gains for commodity prices.

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NEW YORK – Average American than recorded 7% of their retirement nest eggs desired and are likely to continue to work in retirement to supplement his income.

Middle-class Americans believe that which they need $ 300,000 to fund their retirement, but on average just saved $20,000, according to a poll released Wednesday by Wells Fargo & co.

"Middle class" is defined as those aged 30-69 with $ 40,000 to $ 100,000 or $ 25,000 to $ 100,000 in assets to invest, and those aged 25-29 with income household income or assets to invest $ 25,000 to $ 100,000.

"Too many Americans have heads in the sand to the obvious savings deficit," said Laurie Nordquist, Director of Wells Fargo institutional pension trust. "Less than a miracle, a winning lottery ticket or a large inheritance, they will be forced to dramatically reduce their lifestyle after retirement."

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Of the retirement age approaching fast are not well funded. Respondents aged 50 to 59 recorded an average of only $29,000 for retirement.

As a result, more than a third of respondents believe that they will have to work during retirement to the things they want or ends simply.

Many are still relying on social security to fill the void, although confidence in this funding varies considerably according to age.

Sixty - seven percent of respondents aged between 50 and 59 believe that social security will contribute to their retirement income while only 22% of the 30-somethings thought that it would be enough left in the pot to fund their retirement.

The vast majority of respondents admitted that they should help determine how much money they need to live in retirement and investments to their 401 (k) s collection. But in a negative torque for financial advisors, more than two-thirds said that they were not willing to pay for these tips.

This puts more responsibility employers to provide advice and planning through their workplace 401 plans tools Nordquist says.

"If people are not willing to pay for tips that they will make an approach more vanilla planning," she says. "But a simple plan is better than no plan." (Statement by Helen Kearney, mounting by Matthew Lewis)

Copyright 2010 Thomson Reuters. Click for restrictions.

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HONG KONG (Reuters) – The euro fell to a two-month low on Friday, with Europe's fiscal problems looking more likely to spread than be solved in the near term, while the looming year-end kept many equity investors eager to take profits, weighing on Asian stock markets.

Major European stock markets fell, with the FTSEurofirst 300 opening down 0.5 percent (.FTEU3) in early trade and London's FTSE 100 down 0.7 percent (.FTSE). U.S. stock index futures were down 0.4 percent.

Caution ruled in financial markets, with thinning volumes and pockets of risk, especially North Korea's saber rattling ahead of the South's military exercises with the United States this weekend, driving more stock investors to take profits on the year's winning sectors in Asia.

The Australian dollar slid after the head of the country's central bank said interest rates were about right for the near term, extinguishing speculation the currency's yield advantage would get a policy boost in the next few months.

The MSCI index of Asia Pacific stocks outside Japan fell 1.4 percent (.MIAPJ0000PUS), weighed down the most by a 2 percent decline in the consumer discretionary sector.

Powered by the view that the hunger of Asia's consumers for big-ticket items such as cars and appliances will keep growing, this sector is up 27 percent so far this year (.MIAPJCD00PUS), making it still by far the best performer.

The benchmark KOSPI index in South Korea fell 1.3 percent (.KS11) ahead of a tense weekend, with the North threatening war over joint U.S.-Korean military exercises.

Japan's Nikkei share average (.N225) slipped 0.4 percent on the day, with strength in larger exporter shares offset by weakness in retailers and industrial stocks.

OUTPERFORMING JAPAN

The Nikkei's 9.1 percent rise in November, driven in part by a weakening of the yen, is on course to be the biggest monthly gain since March.

"Recent purchases done by foreign investors are not simply short covering but I think fresh funds are being poured into Japanese shares. More follow-through buying could drive up shares prices further," Nagayuki Yamagishi, a strategist at Mitsubishi UFJ Morgan Stanley Securities in Tokyo.

Correspondingly, the U.S. dollar's 4.5 percent rise against the yen is also the steepest single-month advance since March.

Japanese government bonds, in turn, sold off, with 10-year futures down 2.6 points in November, the biggest monthly decline since April 2008.

The December contract was down 0.5 point at its lowest since June 23, ahead of new supply of 10-year debt next week. The flows across the yield curve have been erratic, and dealers are keeping watch of cash yields of mid-maturity bonds to see if they follow the 10-years higher, which would trigger more bullish bets to be folded.

The U.S. dollar nudged up, though mainly because of weakness in other currencies.

UNDERPERFORMING EURO

The euro was down 0.7 percent at $1.3262, as traders grew tired of waiting for a possible squeeze of bets against the currency and sold it ahead of the weekend.

"We've been hearing one piece of bad news after another from the euro zone lately. There's even talk of a breakup of the euro zone," said Tsutomu Soma, manager of foreign securities at Okasan Securities in Tokyo.

Many traders were keeping a close watch of Portugal, which could be next in the firing line among the euro zone's fiscally vulnerable countries. A majority of euro zone nations and the European Central Bank are urging Portugal to apply for a financial bailout from a European rescue fund, Financial Times Deutschland reported on Friday, without naming its sources.

The Australian dollar was down 1.2 percent to US$0.9683 after Reserve Bank of Australia Governor Glenn Stevens said policy was appropriate for now, suggesting the central bank was in no hurry to tighten rates.

He later said it was not unreasonable for investors to price in a rate hike in the middle of 2011, a comfort to longer-term investors in the Australian dollar but no solace for short-term bulls who had hoped for a near-term push to parity.

(Additional reporting by IFR Analyst Takahiro Okamoto in TOKYO and Reuters FX Analyst Krishna Kumar in SYDNEY)

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Constructors are pessimistic about the housing market but they see a little more foot traffic after the worst for the sale of home in a decade.

The National Association of Home Builders says its monthly index builders sentiment rose in October 16, the first increase in five months .the ' index was 13 for two months, the lowest level since March 2009.

October reading is equal to June.

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Readings below 50 indicate the negative feelings about the marché.La last time the index was greater than 50 was in April 2006.

Slow growth of employment and the credit crunch, high unemployment rates have kept people to buy homes.

Separately, the Federal Reserve reported Monday that industrial production fell in September for the first time since the end of the recession, consumer demand low led plants to remove.

U.s. Federal Reserve said output factories of the country, utilities and abandoned mines by 0.2 percent last month.

Industrial production increased by 4.8% in the quarter from July to September, slower gains 7 per cent in each of the first quarter of this year.

Factory output, the most important element of the industrial production fell 0.2 percent last month.Manufacturing posted monthly earnings for the first year after the end of the recession in June 2009.Mais since it fell twice in the past four months.

Manufacturing has helped to stimulate economic growth, like companies replenished and replaced a équipement.Déclin September could slow this tendance.Sans consumer demand for relay, the industry can maintain its strong growth.

Production of consumer goods and construction dropped last month that high unemployment makes us hesitate to dépenser.Diminution production of automotive products, appliances and energy offset a small gain in production company .the production machinery and electrical equipment was also dropped.

American factories operated 74.7% of their capacity in September, down 0.1% August .c ' was the first drop since June 2009, closing date of the deepest recession since the great depression.

Mine production rose by 0.7 %.Utilitaire output fell by 1.9%.

The Associated Press and Reuters have contributed to this report.

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SEATTLE - Apple Inc. said Monday that net income for the latest quarter rose by 70% on sales of the iPhone, although iPad sales fell from expectations.

Shares fell into trade after hours normales.Stock Apple had perforated top for more than a week on great hopes for the iPad record prices.

Apple sold its new computer Tablet-style to exercise 4.2 million fourth quarter, less than the approximately 5 million that analysts, on average, had planned.

The company sells iPhone 14.1 million from July to September, more than 12 million cherchaient.Apple chief Financial Officer Peter Oppenheimer analyst said in an interview that the company was able to do more iPhone, that number would have been even higher.

The iPad sales could have been hampered by supply problems. Oppenheimer said that enterprise was able to increase production of iPad towards the end of the quarter.

Apple's net income increased by 4.3 billion dollars, or $ 4.64 per share of 2.5 billion dollars, or $2.77 per share, during the same period last year.

Stir-fry recipes 67 per cent to 20.3 billion from $ 12.2 billion last year.

Revenues and net income were record amounts for Apple.The company has also much better that Wall Street analysts surveyed by Thomson Reuters prévus.Les analysts expect Apple to earn $4.08 per share of $ 18.9 billion.

"When you send the best products ever, are the results that you expect to see," said Oppenheimer.

Apple has stated that it expects to earn $4.80 per share for the quarter holiday recettes.Apple $ 23 billion is known for issuing low guidance and sailing then sur.Analystes currently seek $5.06 by share of net income $ 22.3 billion in revenue.

Shares of Apple, which is based in Cupertino, California, plunged $ 20.69, or 6.5% to $297.31 negotiating extended after the publication of the résultats.Dans ordinary session earlier, the stock rose $3.25, or 1%, $317.99.

For the fiscal year, income net of Apple jumped 14 billion dollars, or 3 p.m. $15 per share, 70 per cent of 8.2 billion from $ 9.08 or $ per share.

Stir-fry recipes 52% to $ 42.9 billion $ 65.2 billion.

Copyright 2010 the Associated rights Press.Tous réservés.Ce hardware cannot be published, broadcast, rewritten or redistributed.

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In time-honoured fashion, an amount disproportionate cuts George Osborne will fall on public investment, instead of current expenditure.

But there is also a matter of perspective. A large part of the commentariat describes the imminent cuts "savage" or "draconian".However, some try to say what a fuss for rien.Qui is correct?

In a sense, both are.Deniers can reasonably noted that expenses are always defined in terms of money even after 2015/16 total government spending cuts will be ￡ 60bn higher than in 2010-2011. But in an economy with a continued increase in the price level, this is hardly a telling point.

More broadly, in real terms the planned reductions still leave public expenditure above the level it was at in 2008/9. Thus a single level reductions are not drastic at all.

The world will not end in response to these reductions and the standard of living do not immerse themselves.They are not as the beginning of a war or an outbreak of plague RTI ' on the other hand, what in the modern economy is? When they occur, we rightly make a fuss about recessions and even in the worst case most people keep their employees and spends most of the normal life.

Saying that cuts in the public sector is not to much because they return only when he was two years ago, it of a bit like saying that we are go cut Xpc standard of living of the consumer, but don't worry public spending, it only take you back to the standard of living you had two years ago and it was not too bad then, isn't it?Most people would not see things this way.

Of course, even after reductions, expenditure will be always mean higher was profligacy work starts. But sections essentially reversed higher public spending which took place in the work.lthis which means that you'll be disappointed if you are looking for a significant decline in share of the economy absorbed by public spending trend growth.

Even after the reductions in five years the share of public expenditure in GDP is just below 40pc.It will be well below its peak of 47pc, but still well above the recent low 36pc registered in 1999-2000 and well short of right, the curator to lay the groundwork for significantly lower rates of personal taxation ambitions.

To make real progress on this is a job for the next Parliament.It will involve the public sector and public expenditure reform retained, combined with economic growth continued soutenue.Mais would be unlikely to require a repetition of the cuts now implemented.

In some respects immediate pain is not as bad, as suggested by the bare numbers.In time-honoured fashion, a disproportionate amount of the cuts will fall on public investment, instead of current expenditure.Indeed, current actual only should decrease by topic 1pc five ans.Cela may seem much, but he likens to a long-term 3pc growth rate.Even in the context of Mrs. Thatcher real current expenses rose by 1. 7pc per year.

Furthermore, these figures include spending on debt interest and social security, which should go to hausse.à exclusion of these means that during the next five years, the other bits of current public expenditure are defined in the fall 7pc in real terms.

The Distributor is even more impressive when take you into account the commitment of the Government to protect health-care costs and help overseas .more five unprotected departments could see average actual words 25pc cuts costs.

On this measure, the planned reductions are deeper that were imposed by the work in the mid-1970s or Mrs Thatcher years 1980.En addition, cuts mean compared to the level that public spending would reach if it aboard amounting to its average long term just below 3pc, 2015 2016 will it approximately ￡ 150bn, or 20pc per year more low .c ' is big enough for me.

Mind you, a different standard reductions are not important of tout.La most of what will be announced this week had been implicit in the workplans .c ' is just that the previous Government had yet to specify exactly where the axe a result chute.Par most opprobrium that will smite the Government would have fallen on the job.

As Ministers try to bear the hat that will be thrown at them, it is perhaps of scant comfort.

Roger.Bootle@capitaleconomics.com

Roger Bootle manages the Director of economic capital and economic adviser to the Deloitte.

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