Business News

Wall Street flat

Jan 24, 2012, 0:43 GMT

New York - Wall Street's major stock indices were largely unchanged in trading Monday as investors waited out developments in ongoing European efforts to tame its debt crisis.

Traders had their eye on Greece as Athens aims to submit a final debt swap offer to its private sector bondholders by February 13, a finance ministry official told dpa.

Debt-stricken Greece had hoped to finalize a deal by Monday, to secure a second aid package from the European Union and the IMF before a March 20 bond repayment of 14.5 billion euros (18.8 billion dollars) is due.

Meanwhile in Brussels, the European Union's top economic official ruled out the possibility that the bloc might commit more money for Greece, as eurozone finance ministers met to discuss a proposed budget discipline pact ahead of next week's EU summit.

The blue-chip Dow Jones Industrial Average slipped 11.66 points, or 0.09 per cent, to 12,708.82. The broader Standard & Poor's 500 Index rose 0.62 points or 0.05 per cent, to 1,316.00. The technology-heavy Nasdaq Composite Index shed 2.53 points or 0.09 per cent, to 2,784.17.

The US currency declined against the euro to 76.83 euro cents from 77.32 euro cents on Friday. The dollar ticked up against the Japanese currency to 76.97 yen from 76.95 yen.