European exchanges increased amid negative sentiment for the Euro

Today, exactly at 3 to 4 pm WIB*, European stocks gain, rebounding from its biggest weekly decline in 11 months, as investors weighed the head of European financial support of "Greek-saving plan". U.S. index futures rose, while Asian indices were down. Dexia SA stock, which received capital to guarantee billions of euros of funding from France, Belgium and Luxembourg, rose 6.8 percent after agreeing to sell assets in Italy, Spain and Slovakia to win the approval of EU bailout. Xstrata Plc's stock rose 3.7 percent. Europe's Dow Jones Stoxx 600 Index rose 0.7 percent to 239.22 at 8:37 in London. Futures on the Standard & Poor's 500 Index rose 0.5 percent today. Dow Jones Industrial Average jumped more than 120 points in the last hour of trading on 5 as investors speculated the European Union could provide a solution to budget deficits in Greece and Spain and the U.S. consumer credit fell less than expected. The MSCI Asia Pacific Index fell 0.6 percent, as Panasonic Corp. and Casio Computer Corp. reported losses. European Central Bank President Jean-Claude Trichet said the ECB is "confident" Greece will reduce the deficit below the 3 percent of gross domestic product in 2012 from 12.7 percent.
  We Says: The value of the Euro will be corrected this afternoon - this evening up to $ 1.3750, AUD to 87.30 cents level and pound to $ 1.5730 level for positive Asian markets.
Source: Bloomberg.com