News Headline Summary

Having gone through the midway point of the European day, volumes remain light with most asset classes trading rangebound. Focus remains on the US Senate reconvening at 1600GMT/1000CST

Update details:

- The USD has gained against most currencies, with a weaker EUR being attributed to year-end selling, and uncertainty regarding the political negotiations in the US prompting safe haven flows to USD.
- EUR/USD trades 1.3183 (-33 pips) last.

- The CAC-40 heads into its early close with gains of 0.77% after France's constitutional court threw out a proposed 75% income tax on the richest members of French society. The FTSE 100 lags, trading down 0.5% as stocks due to go ex-dividend on Wednesday weigh on the index.

Print 12:15, 31 Dec 2012 - Market Analysis - Source: RANsquawk