Bloomberg News

U.S. Stocks Pare Gains Amid Report of Greek Bond Negotiations

November 25, 2011

Nov. 25 (Bloomberg) -- U.S. stocks pared gains as technology and energy companies turned lower and financial shares trimmed their advance following a report that Greece is demanding private investors accept larger losses on their sovereign debt.

The Standard & Poor’s 500 Index rose 0.1 percent to 1,162.57 at 11:55 a.m. in New York after earlier climbing as much as 0.9 percent.

Stocks trimmed gains as Reuters reported that Greece is demanding that new bonds issued to investors as part of a debt swap have a net present value of 25 percent, lower than the “high 40s the banks have in mind.”

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


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