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European stocks resumed losses as company earnings missed estimates, talks on forming a Greek government entered a fifth day and JPMorgan Chase & Co. posted a $2 billion trading loss. Asian shares and U.S. futures fell. In Greece, Evangelos Venizelos, the socialist Pasok leader, will press counterparts on a proposal for a unity government that would avert a new election. Greece’s political impasse has raised the possibility another election will have to be held as early as next month, threatening the implementation of austerity pledges. The standoff has reignited European concern over Greece’s ability to hold to the terms of its two bailouts negotiated since May 2010 and sparked concerns about the country leaving the euro. JPMorgan Chase late yesterday reported a $2 billion surprise loss on synthetic credit securities. Chief Executive Officer Jamie Dimon said the loss occurred after an “egregious” failure in a unit managing risks.
FTSE 100 5,519.05 -24.90 -0.45%
CAC 40 3,105.34 -24.83 -0.79%
Xetra DAX 6,506.81 -11.19 -0.17%
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