Bloomberg News

U.S. Stocks Pare Gain as Italy Official Damps China Speculation

September 13, 2011

Sept. 13 (Bloomberg) -- U.S. stocks trimmed gains after an Italian official damped speculation that the nation was in talks with China to help halt its debt crisis.

The Standard & Poor’s 500 Index rose 0.4 percent to 1,166.3 at 10:44 a.m. in New York after climbing 1 percent earlier.

Italy hasn’t asked for “any particular help” from China, Deputy Economy Minister Antonio Gentile said. Today’s bond auction shows demand from investors “holds,” Gentile said. The government only discussed possible “industrial investments” with Chinese officials, he said. His comments, reported by Italian news agencies earlier, were confirmed by his office.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


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