Asian exchanges continued down this morning with Nikkei falling 0,92 % on fear that the sovereign debt crisis in

Europe is running out of control. In the US both the latest manufacturing and consumption indexes were slightly

up, creating hopes that the US economy shall avoid a double dip recession. Technology stocks were strong with Nasdaq up 1,09 %.

USD is strengthened, and Euro/USD fall to its lowest level in 5 weeks trading at 1.3437. USD/JPY stabile at 77.04. Oil prices

which climbed in US trade are falling back; NYMEX at 98,75 and Brent 111,60. Gold has dipped back to 1767 after reaching 1787

on Tuesday.

The Premier designate in Italy has so far not been able to compose his final government. There are rumors that ex-commissioner Monti shall take responsibility also for the Ministry of Finance. Greece is expecting a confidence vote on its new

government to day. Facing new elections in the nearest days, Spanish bonds raise and are now close to facing the critical 7 % level.