Bloomberg News

U.S. Stocks Trim Losses as Shares of Jefferies, Euro Recover

November 04, 2011

Nov. 4 (Bloomberg) -- U.S. stocks trimmed earlier losses as Jefferies Group Inc. gained after saying it will increase disclosure of European holdings to counter investor concern, while the euro pared its decline before a Greek parliament vote.

The Standard & Poor’s 500 Index slipped 0.6 percent to 1,253.18 at 2:01 p.m. in New York after slipping as much as 1.8 percent earlier. Jefferies surged as much as 4.3 percent, erasing a 7.4 percent drop, after saying it will list individual holdings on its website to "dispel rumors, misinformation and misplaced concern." The euro was down 0.2 percent at $1.3796, trimming a slide of as much as 0.8 percent.

Greek ruling party deputy Vasso Papandreou said tonight’s vote in Greece’s parliament is a vote for the formation of a government of national consensus and not a vote of confidence in the current government, according to comments broadcast live on private Mega TV.

--Editor:

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


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