* World equity index falls for fifth day, Wall St. mostly
* Uncertainties over Greece and U.S. fiscal cliff hit
* Oil slips as investors worry over global demand
NEW YORK, Nov 13 Global shares fell for a fifth
straight day on Tuesday and the euro slid to a more than
two-month low against the dollar after international lenders
clashed over help for Greece, stoking fears the country's debt
crisis could flare up anew.
Concern about the looming U.S. "fiscal cliff," a series of
budget cuts and tax hikes worth $600 billion that could risk
pushing the economy back into recession, weighed on the S&P 500
"Global financial markets are in a cautious mood today,"
said Nick Bennenbroek, head of currency strategy at Wells Fargo
in New York. "Between euro zone debt jitters and the U.S. fiscal
cliffs market worries are likely to persist."
The MSCI world equity index fell 0.4 percent
to 321.45 points, having hit its lowest point since early
September. The index has lost about 2.5 percent so far this
European shares shed 0.4 percent to 1090.80 points.
On Wall Street, the Dow Jones industrial average
edged up 11.10 points, or 0.09 percent, at 12,826.18. The
Standard & Poor's 500 Index fell 0.62 points, or 0.04
percent, at 1,379.41. The Nasdaq Composite Index was
down 7.91 points, or 0.27 percent, at 2,896.35.
The euro slid as low as $1.2660 on Reuters data, the
weakest since Sept. 7, before recovering to $1.2696, down 0.1
percent on the day.
The euro zone common currency trimmed losses after a German
newspaper said Germany wants to bundle Greek aid into a single
payment of more than 44 billion euros.
Traders interpreted the report, which cited government
sources, as a sign that the euro zone's paymaster was eager to
see a deal done. Asked about the report, a German finance
ministry spokeswoman said no final decision had been made on
But analysts say the euro remained vulnerable to uncertainty
about Greece after euro zone finance ministers on Monday held
off disbursing more aid to the debt-ridden country. A further
Eurogroup meeting would take place on Nov. 20.
Brent crude oil slid below $108, declining for a second day
on worries about demand growth in a well supplied market as the
United States and Europe grapple with fragile economies.
The International Energy Agency, which advises
industrialized nations on energy policy, issued a bearish report
on Tuesday, showing improving supply, more limited increases in
demand and rising global inventories.
Gold eased for a second day, tracking losses in stocks and
other commodities. Spot gold was last at $1,727 an ounce.
Concern about Greece and a possible U.S. fiscal crisis drove
safe-haven U.S. Treasury debt higher. The benchmark 10-year U.S.
Treasury note was up 6/32, with the yield at 1.5911 percent