Treasuries rise as commodities fall, stocks fluctuate on budget

European Markets

Among European stocks, Alcatel-Lucent SA rose 2.6 percent after the company was said to be closer to obtaining financing of at least 1 billion euros ($1.3 billion). TUI Travel Plc gained 3.4 percent after Europe’s largest tour operator reported earnings that topped analyst estimates. United Internet AG tumbled 8.3 percent as Warburg Pincus LLC offered its 5.5 percent stake for sale.

The dollar depreciated 0.3 percent to $1.3091 per euro after reaching $1.3107, the weakest level since Oct. 18. It dropped 0.6 percent against the yen.

Australia’s dollar rose against 14 of 16 major peers, climbing 0.5 percent to $1.0475, as the central bank said demand outside the mining industry may rise after cutting interest rates to a half-century low of 3 percent. The Swiss franc slipped 0.4 percent to 1.2129 per euro, the weakest level since October.

Carbon dioxide permits fell as much as 4.5 percent to 5.68 euros a metric ton, the lowest since they started trading in April 2005 on ICE Futures Europe in London. The European Union commission asked its 27 members to indicate Dec. 13 whether they support a plan to tackle a glut in the market.

Emerging Markets

The MSCI Emerging Markets Index slid 0.1 percent, erasing earlier losses. Russia’s Micex Index slipped 0.6 percent and South Korea’s Kospi lost 0.3 percent.

India’s Sensex gained 0.2 percent as Parliament began debating whether to allow overseas supermarkets to enter the country before voting on the issue tomorrow.

The Shanghai Composite Index increased 0.8 percent, rebounding from the lowest level since January 2009. The Shanghai Composite will rally 48 percent within nine months after its decline below 1,960 signaled selling has climaxed, according to Tom DeMark, the creator of indicators to show turning points in securities.

Bloomberg News

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