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LONDON (AFP) – The European single currency and stock markets fell sharply on Wednesday after Moody's rating agency placed Spain on review for a possible downgrade, refocusing attention on the eurozone debt crisis.

The euro plunged as low as 1.3286 dollars in early morning deals, compared with 1.3375 dollars late in New York on Tuesday.

And the shared eurozone unit tumbled to a record low point against Switzerland's safe-haven currency, hitting 1.2759 Swiss francs.

"News that Moody's has put Spain's debt rating on review has knocked the euro," said Rabobank analyst Jane Foley.

"The news plays on fears that contagion could extend to the Spanish bond market, though it does not enlighten the market much further with respect to the underlying issues with respect to Spain."

The Madrid stock market dived 2.01 percent, Frankfurt dropped 0.72 percent, London shed 0.37 percent and Paris fell 0.84 percent.

Moody's announced it could cut Spain's credit rating again because of heavy debt refinancing needs for the year ahead, banking problems and high-spending regions.

"Moody's believes that the ... downside risks warrant putting Spain's rating under review for downgrade," top Spain analyst Kathrin Muehlbronner said in a statement.

"However, Moody's also wants to stress that it continues to view Spain as a much stronger credit than other stressed eurozone countries ... Moody's review will therefore most likely conclude that Spain's rating will remain in the Aa range."

The agency cut Spain's sovereign debt rating from Aaa to Aa1 in September, adding to the pressures on Madrid and the wider eurozone.

In response, the Spanish government said it aimed to convince Moody's over the next three months to abandon the threatened downgrade.

Wednesday's grim news comes one day after Standard & Poor's lowered its outlook for Belgium from stable to negative.

"The euro tested back below 1.33 dollars after Moody's said it may downgrade Spain's credit rating, reminding the markets that S&P had done the same with Belgium 24 hours before," said analyst Ilya Spivak at trading website Daily FX.

The developments have rattled investors ahead of a European summit on Thursday and Friday in Brussels, where EU leaders will seek to hammer out proposals for a permanent rescue mechanism for debt-ridden nations.

Later on Wednesday, Ireland's parliament will vote on a 85-billion-euro (113-billion-dollar) EU-IMF bailout, which comes hot on the heels of the rescue of debt-plagued Greece in May.

Asian equities meanwhile reacted sluggishly on Wednesday to overnight gains in New York, with Tokyo held back by a downturn in Japanese business confidence.

Wall Street climbed higher on Tuesday after a decision by the US Federal Reserve to maintain near-zero interest rates and a 600-billion-dollar asset purchase programme.

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Alpha Natural Resources (NYSE:ANR - News) and Patriot Coal (NYSE:PCX - News) stocks fell 3.7% and 4.6%, respectively, after Citigroup downgraded them. Meanwhile, rival Puda (AMEX:PUDA - News) plunged 17.5% to 12.04 after it announced plans to offer 7.85 mil more shares at $12 each. The sale will raise $94 mil, but significantly dilutes per-share profit of existing shareholders. Although Citi raised its rating on Peabody (NYSE:BTU - News), the largest U.S. coal producer, it still fell 1.3%. IBD's coal group had surged 67% since July 1 due to strong demand from China.

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The currency fell to $1.2997 against the dollar in trade on Tuesday morning, his lowest point in two months, even if it later recovered back losses after U.S. consumer confidence burned in November at the highest level of five months.

The brightest prospects suggest u.s. consumers might be more willing to open their wallets in addition, despite the high unemployment rate.

Agreement of a package of emergency aid of €Ireland stunned by bailing out on its shores, costs 85bn failed to allay the fears of market on the health of the euro area.

Concerns are now focusing on other countries responsible for debt with the Spain Portugal for more in-depth examination.

Governments have seen the cost of soar them loan during the past weeks and bond - yields rewards investors seek to take on the risk - increase again.

Gaps between the Spanish and Italian 10-year bond gives German cue points, which have a strong status, have reached their highest level since the euro was launched in 1999.

The crisis has started the year Greece, who was since a rescue operation last €110bn EU and the IMF, and thorough this month in the Middle fears holders will have to share future costs orchestrated.

An area of concern is that the Spain economy is twice as large as Greece, Ireland and combined Portugal prompting fears about safety net for the €750bn euro area may be almost enough if the country requires that aid.

Similarly, although most analysts view Italy at the lowest risk, the country is now called "too big" failure"and"too big to bail.

The cost of backup most euro-dette area is also on the rise, with five credit default swaps (CDS) - instruments that operate as insurance against a default country - Irish debt place 13 basis points to 6 25pc, which means that it now costs €services to ensure that the 10 million euros worth of bonds Irish.

Even the France, which is considered, along with Germany as one of the more stable members of the euro area is affected, with 5-year CDS amounting 6 points basic 1. 05pc, reflecting concerns about the toll of bailing out weaker economies.

Latest figures show Germany unemployment fell again in November, confirming its status as a powerhouse in the euro area.

The British pound gains as investors seek a safer alternative area euro.Sterling jumped to its highest level since September 20 and was directed against the euro for its biggest monthly gain since January 2009.

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The euro rose to approximately $1.33 on news of the agreement of the Ireland after negotiation to $1.3181 in Asian trading – its lowest level since September 21, fallen below $1.32 morning trade in Europe.

"The impact on the euro was stark," said Mitul Kotecha agricultural credit, with the single currency "failing to take its initial rally following the announcement.

Debt Portugal Spain and Ireland insurance costs continued to rise, while the cost of borrowing for the two Mediterranean countries also has stock augmenté.Marchés also fell across Europe with Ibex index the Spain more than 1pc.

"That really look is Spain, as fourth economy euro, greatest Greece, the Ireland area and Portugal put together, said Nicholas Smith, global Director of MF equity research in Tokyo.

"The question is whether it has the power of fire capital to rescue the Spain in way of the Greece and the Ireland.".

The Greece was the first recipient of a major EU - IMF rescue earlier this year.

European Union finance ministers seal agreement 85bn rescue € to end Ireland Sunday.

The Ireland paralyzed the banks have invested in an explosion of property who later had collapsed, will immediately receive €with but is subject to a "core strength", the Government stated in Dublin.

Whereas the Irish Prime Minister Brian Cowen insisted that he was "the best available deal" for the Ireland and its people, the Irish press comment was scathing.

"Sold on the swanny," the Irish Daily Mail, adding in an editorial in the heading: "we are without a safety net."

"They require emptying of the national bank, substantial money only we laissé.Nous we sold our birthright for a mess of soup right."

The Irish Government has agreed to contribute to. 5bn €17 loan facility will raid the national pension and other resources of national cash reserve fund.

The Irish Sun said agreement "phrases for generations of horrible debt" and 5 8pc sentenced average annual interest on loans as "fairly punitive."

"It is pure fantasy to think that the Irish people can afford to pay this Bill loi.Le taxpayer is currently dealing with pain, holders while bonds get off scot free .c ' is the scandal, pure scandal,"he said.""

Nevertheless, the agreement has been praised by international finance officials.

Governor of the Bank of France Christian Noyer stated that he had "no doubt" that the initiative could be successful, while IMF Chief Dominique Strauss-Kahn said that he has no doubt Ireland will meet his end of market.

United Kingdom, the Denmark and the Sweden, the yield countries provide bilateral loans totalling approximately €emissions.

In the framework of the agreement Ireland received an additional year, until 2015, to bring its deficit 32pc of domestic product 2010 gross return to 3pc allowed.

The Ireland coalition Government unveiled a four year plan last week marked reductions of 10 billion euros and the tax expense rises five billion euros, triggering protests mass at week's end.

Cowen said he expected Ireland pay average interest of 5.8% per annum on loans subject to market conditions.

"Without these loans the necessary tax increases and expenditure cuts would be much more severe, Cowen insisted.

EU Ministers also drew up rules for future rescues, under the terms of rigorous IMF, hitting private investors who purchase of government bonds.

They agreed that private sector to share the burden in the future go value after an existing euro area Emergency Fund of €440bn expires in 2013.

"Rules will be adapted for participation in case by case of creditors private, fully consistent with the policies of the IMF," said a statement.

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LONDON (AFP) – Europe's main stock markets slumped on Friday, with heavyweight miners struck down by fears over Chinese inflation, as shares also came under pressure from concerns over eurozone debt and Korean tensions.

In morning deals, London's benchmark FTSE 100 index shed 1.32 percent to 5,623.73 points, Frankfurt's DAX 30 lost 1.21 percent to 6,795.77 points and in Paris the CAC 40 declined 1.60 percent to 3,700.19.

The Stoxx 50 index of leading eurozone companies dropped 1.76 percent to 2,715.65 points.

"Much of today's weakness in European indices has been triggered by a sell off in the mining sector, which is tracking a fall of 1.7 percent in copper prices," said Joshua Raymond, an analyst at City Index trading group.

"Much of this weakness is a knee-jerk reaction to what is happening in China and fears that they may make further moves to cool excessive growth."

Inflation pressures are growing in commodities-hungry China, a senior central bank official said this week, because of flows of capital into the country and expectations of a revaluation of the yuan.

The nation's consumer price index rose 4.4 percent year-on-year in October, well above the government's full-year target of three percent, with the prices of 18 types of vegetable rising by more than 60 percent.

"There are also undoubtedly fears of a further escalation in tensions in the Korean peninsula," said Raymond.

"The Asia region has been crucial to demand for resources and any escalation of instability in that region, particularly that of which may drag China into the drama could create some added volatility for the key miners in Europe."

In London, the biggest FTSE 100 faller was British resources giant Vedanta, whose share price plunged 4.75 percent to 2,041 pence. Anglo-Australian miners Rio Tinto and BHP Billiton each fell by about 3.5 percent in morning deals.

Asian stock markets closed mostly lower on Friday in quiet trade overshadowed by tensions on the Korean peninsula and the eurozone's debt woes.

With markets in the United States closed on Thursday for the Thanksgiving holiday, dealers lacked a strong peg to buy on.

But Seoul tumbled 1.34 percent after a warning from North Korea that the region could move closer to war if the South and the US go ahead with planned military exercises.

The threat comes days after an exchange of artillery fire between the North and South on Tuesday that left four people dead on a South Korean island, the worst crisis to hit the peninsula since the end of the Korean War.

"European stocks have opened sharply lower this morning following a weak session in Asia overnight amid continued military tensions in Korea and continued fears surrounding the ongoing sovereign debt crisis in Europe," said Edward Keeling, an analyst at Dublin-based stockbrokers Dolmen.

Spain on Friday ruled out any chance of an Irish-style rescue and Portugal said it was under no pressure either, but debt risk premiums nevertheless soared as investors feared Ireland's problems would spread.

The Dublin stock market was down 0.84 percent and Madrid dived 2.38 percent early on.

Ireland's government was bracing for the result of a by-election which is expected to cut its slim parliamentary majority, while trade unions prepared for a mass weekend protest.

As German Chancellor Angela Merkel and French President Nicholas Sarkozy urged a rapid conclusion to negotiations on a bailout worth 85 billion euros (114 billion dollars), it emerged that an announcement could be made Sunday.

Defeat for Prime Minister Brian Cowen's Fianna Fail party in the by-election in Donegal, in the rural northwest of Ireland, could add to the pressure on his government.

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NEW YORK – Stocks sank in early trading during a shortened session on Wall Street amid lingering uncertainty surrounding Europe's debt troubles and a warning from North Korea.

European stock markets and the euro fell Friday as worries mount that Portugal will need cash from other European Union countries to help manage its debts before the country's borrowing costs rise too high.

Portugal's finance minister said the country rejected the idea floated by some E.U. members that it should take a bailout before bond investors force the country's bond yields up. Meanwhile, Germany and France have said they would like a quicker resolution to the ongoing debt crisis.

Fears about the conflict between North and South Korea are also weighing on stocks. North Korea warned Friday that plans by South Korea and the U.S. to stage military maneuvers have put the Korean peninsula on the brink of war. North Korea fired artillery shells at a South Korean island on Tuesday, killing four people.

The Dow Jones industrial average fell 87, or 0.77 percent, to 11,101. The Standard & Poor's 500 index lost 8, or 0.6 percent, to 1,190. The Nasdaq composite index fell 6, or 0.2, to 2,536.

Falling shares outpaced rising shares by more than two to one on the New York Stock Exchange, with 249 million shares trading hands.

The euro dropped 0.85 percent on the day at $1.3237, slightly above its two-month low of $1.3199. The Euro Stoxx 50, which tracks the shares of blue chip companies in countries that use the euro, slipped 0.53 percent.

Friday also marks the unofficial start of the holiday shopping season. Black Friday, a crucial event for retailers, has recently been the busiest shopping day of the year. Sales during the Thanksgiving weekend made up 12.3 percent of all holiday revenue last year, according to research firm ShopperTrak. Black Friday accounted for half of that.

U.S. stock markets will close at 1 p.m. EST Friday instead of the usual 4 p.m. Markets were closed yesterday for the Thanksgiving holiday.

Stock indexes are ending the week almost flat, after being buffeted by economic data, European debt troubles and the clash off the coast of South Korea. Shares were mixed on Monday after the Federal Bureau of Investigation raided the offices of two hedge funds as part of a broad insider trading probe. They fell on Tuesday, with the exchange of fire between North and South Korea and as the Federal Reserve lowered its forecast for growth through next year.

Markets surged on Wednesday after a batch of economic reports buoyed hopes that the U.S. economic recovery was gaining strength. The reports showed that Americans' income rose and consumer spending climbed in October. And fewer people filed first-time claims for unemployment benefits last week.

Since last Friday's close, the Dow has lost 106 points and the Standard & Poor's 500 index has lost 10. The Nasdaq composite index has gained 18 for the week.

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LONDON (AFP) – European stocks sank on Tuesday, after heavy Asian losses, as investors dumped risky assets on the back of fading enthusiasm over Ireland's bailout and a spike in tensions between North and South Korea.

Financial markets were also hit by an overnight raid by FBI agents on three hedge fund firms as part of a vast insider-trading probe, and Chinese efforts to cool its booming economy.

"Markets are trading 'risk off' this morning on a combination of factors," CMC Markets analyst Michael Hewson told AFP.

"Irish bailout fears and political uncertainty, the Korean situation and FBI raids on hedge funds ... have made a heady cocktail for investors to digest.

"This has caused significant risk aversion this morning with the US dollar and gold gaining as a result."

Asian stocks slumped on Tuesday, unnerved also by the eurozone debt crisis, firing on the Korean peninsula and expectations that China will take further steps to rein in inflation.

In late morning trading, Dublin's stock market dived 1.94 percent, with the main fallers being in Ireland's battered banking sector.

London fell 0.54 percent, Frankfurt weakened 0.09 percent and Paris dipped 0.70 percent.

The European single currency slid to 1.3592 dollars from 1.3622 in New York late on Monday, as the greenback was boosted by its safe-haven status in times of economic and geopolitical uncertainty.

European shares rallied early on Monday but finished in the red as optimism over Ireland's bailout gave way to fears it might not ease pressure on other weak eurozone states, six months after a rescue for Greece.

"Another bailout -- and investors fear this won't be the last," said Vincent Chaigneau, head of fixed income strategy at French bank Societe Generale.

"The market reaction to the bailout news was fairly positive ... but the mood did not last .. Overall, the reaction to the rescue package was not quite what policymakers had hoped for," he said.

"We had warned ... that there might have been too much optimism on that front. The rescue is seen as a salve but does little to fix the structural problems."

Markets also fell on the back of political tensions in Dublin, as Irish Prime Minister Brian Cowen's governing coalition appeared to fall apart.

The turmoil intensified on Tuesday after Cowen promised to call a general election in the New Year once parliament passes a budget at the centre of the international bailout.

Cowen revealed late Sunday that his administration had applied for aid from the European Union and the International Monetary Fund, adding that it would be less than 100 billion euros (137 billion dollars).

Ilya Spivak, currency strategist at trading site Daily FX, agreed that Tuesday's fierce sell-off in risky assets on Tuesday was rooted in eurozone worries and Korea fears.

"The sell-off is being chalked up to a mixture of renewed sovereign risk concerns on the eurozone periphery ... overlaid with geopolitical concerns after North Korea shelled an island near the disputed Western border with its Southern counterpart," Spivak said.

North Korea fired dozens of artillery shells onto a South Korean island on Tuesday, killing one person, setting homes ablaze and triggering an exchange of fire as the South's military went on top alert.

In Asia, Hong Kong shares tumbled 2.67 percent, Shanghai shed 1.94 percent and Sydney lost 1.17 percent. Tokyo was shut for a holiday.

Wall Street closed mixed on Monday as Ireland's bailout renewed fears that other European states may require similar aid and as a large US insider-trading probe accelerated.

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The company reported a loss of ￡ 15. 9 m for the six months on 2 October, compared to a profit of ￡ 7. 2 m the previous year. The results were affected by a ￡ 10. 9 fresh m pension. Sales slipped 453 million from ￡ from ￡ 466. 9 m.

However, like-for-like sales picked up, climbing 2 7pc in the first half and 6pc in the second quarter, helped by demand for ready-made and biscuits on Fox.

Food North has taken measures to improve companies, including new robot packing biscuit Fox and exiting low margin contracts and plant closures in the division cooked. Stefan Barden, Chief Executive, said the company would now begin a "self help" program in the area of food frozen, which includes the Goodfella and McDougall pies.

The frozen food company reported a loss of ￡ 4.6 m for the first half, compared with ￡ 5.1 m profit last year, after sales 21pc.Aliments North spent about 5 m ￡ on an advertising campaign featuring the "pizza fairy" and new produits.M.Barden says that the company will now focus on improving the presentation in stores, ensure that buyers can find his pizzas and promotions which are more attractive than rival Dr. Oetker, offering

"At this time that they you hit all that databases and we have to get better,"he said.""

Shares slipped 45?p ?p.

North has also maintained its dividend for the semester to 1.55%, payable on January 28.

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The aerospace group saw a reduction of ￡ billion in market value in two days after one of the four Trent 900 engines on a Qantas Airbus A380 widebody failed in flight last Thursday.

Alarm intensified a day later when a Boeing 747 also operated by Qantas and powered by an engine different Rolls-Royce RB211 - was forced to return to Singapore after an engine failure separate incident.

Which have led to concerns that there may be systemic problems in aircraft engine unit the company, which, in the month of August saw also a unit of Trent 1000 for the new Boeing 787 explode Centre test for Derby Rolls - Royce.

In an attempt to quell the crisis of confidence, Rolls-Royce said Monday that he had "engine progress in understanding the cause of the blackout" on Qantas A380 Crescent and it was now clear "incident is specific to the Trent 900 engine".

She added that he was "a series of audits and inspections" with Airbus and three current operators control powered by Trent 900 engines - Qantas, Singapore Airlines and Lufthansa.

"These are progressively completed allowing a resumption of operation of the aircraft in full compliance with the standards of security," said Rolls-Royce.

Shares closed up to 16 p 607 after a drop of 33% Thursday and another 30.5 percent drop inverted vendredi.Ils fall 3pc earlier in the day after Qantas CEO what alan Joyce said he was grounding six command of the company for another 72 hours after found leaking oil were "than normal tolerances" engine on three separate aircraft.

In spite of the Declaration of Rolls Royce, which also rejected any connection to Trent 1000 testbed incident analysts said questions still has need to respond.

"I would like to know more details," said Chris Dyett Investec. ""The company had much criticism for not be ouvert.Mais is only a partial answer.

He added that "this engine has been flying for a few years so I would be surprised if there is a fundamental problem with it".

Currently, approximately 20 A380 aircraft are powered by Trent 900.Singapour, engine which account 11 of these aircraft in service, said that he had "completed our A380 aircraft engine inspections and has not found something of concern"-comment echoed by Lufthansa.Un spokesman said German carrier did there was "no passenger who say that they do not want to fly on the A380.

Analysts have noted that Rolls-Royce necessary to get quickly to the bottom of the issue, if it was not in danger of losing his rival - A380 engine orders a joint venture between GE and Pratt & Whitney.Emirates Air France us providers, both carriers currently flying the A380, use U.S. engines.

Skymark Airlines became the first Japanese company to order command Monday - but is undecided on which engine provider to use.

British Airways and Virgin Atlantic, who ordered respectively 12 and six A380, said they could stick to Rolls Royce engines.

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FTSE 100 in London slipped 0 3pc 5688 investors anticipated Bank of England minutes which are expected to show a split of three tracks between rates of setters, using figures and review the global coalition of public expenditure.

DAX edged 0 lower 2pc and ACC Germany dropped France, 0 2pc.

Mirror falls on Asian markets, due to a strong decline in u.s. stocks during the night.

Export-oriented Japan was hardest hit with the Nikkei index Tokyo drying tumble 1. 65pc tp 9381 points.Australie the ASX slipped 0. 7pc and Hong Kong Hang Seng 0. 7pc.

Oil prices rose above $ 80 per barrel, after attempting to China to control inflation and a property bubble prospective he dragged more than 4pc Tuesday.

The dollar edged more after that Treasury Secretary Timothy Geithner is pulled out of a strong dollar fell against the yen, the euro and the pound sterling.

Buck the trend, with ABN Korea Southern progress 1pc and Shanghai Composite 0 6pc increasingly China markets.

"Announces China was a great surprise for the marché.Sentiment mitigated throughout Asia as investors worried that an increase in interest rates could pressure on the growth of China,"says Masatoshi Sato, Mizuho investors securities Tokyo market analyst.""

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

The increase in interest rates was the first to China since 2007.

Chinese economy has increased 10 3pc in the second quarter and its growth has propelled the resumption of the economy of a deep recession, while the United States and Europe struggle to return to economic works foot.

The US Federal Reserve should largely in an attempt to revive the flagging economy in November by launching a program to purchase more .the Treasury bonds ' objective would be to drive down interest rates on mortgages, loans and other debts and encourage Americans to spend.

Mervyn King, Governor of the Bank of England has also fed hopes to facilitate greater quantitative (ve) Tuesday when he says political currency continues to be a "powerful weapon" in support of recovery.

New York by the tumbling points 165.07, Dow Jones industrial average or 1. 5pc 10,978.62, fall below 11,000 for the first time in a little over a week .the ' broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

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