Apple shares slump in Europe

Apple's share price has slumped on news chief executive Steve Jobs is taking more medical leave.

The stock fell 6.2% to €244.05 ($US326.41) on the Frankfurt stock exchange in Germany. Wall Street is closed for Martin Luther King Day.

Analyst Brian Marshall, of Gleacher & Co, told the Wall Street Journal he expected Apple shares to fall when trading resumes on Tuesday.

"A lot of people will hit the ejection handle and the stock will come under a lot of pressure," he said.

Mr Marshall said the language and tone of the note from Mr Jobs to Apple employees was less optimistic than previous ones.

Last year, Apple stock surged and surpassed Microsoft in market capitalisation to become the world's most valuable tech company.

During the previous time Mr Jobs went on leave, Apple shares were down 23.3% between June 6, 2008 and June 26, 2009. He also took medical leave in 2004.

Europe steady, Asia down
European stocks ended relatively flat as shares held tight ranges. Banking stocks were weaker as euro-zone finance ministers met to discuss the sovereign debt issue.

The Stoxx Europe 600 index edged up 0.1% to finish at 284.06.

London's FTSE 100 index was down 0.3% at 5985.70, Frankfurt's DAX index was up marginally at 7078.06 and Paris' CAC-40 index was down 0.2% at 3975.41.

In Asia, Chinese shares slumped 3% after Beijing’s decision late on Friday to raise banks’ required reserve ratios for the seventh time since the start of 2009. The move triggered a selloff in real-estate and financial stocks.

The Shanghai Composite Index slid 84.68 points to 2706.66, its lowest close since September 30. Hong Kong's Hang Seng Index fell 0.5% to 24156.97.

Japan's Nikkei Stock Average was little changed, up 3.82 points to 10502.86. Australia's S&P/ASX 200 fell 0.8% to 4763.07, while Korea's Kospi declined 0.4% to 2099.85.

Commodities: Oil down
Oil futures slid as much as 0.8% as Alyeska Pipeline Service said it had completed repairs on the Trans Alaska Pipeline System.

The February contract fell as much as 71USc to $90.83 a barrel in electronic trading and was at $US90.96 when London closed. It settled at $US91.54 on Friday, capping the biggest gain in six weeks.

Brent crude for March settlement was down 71USc at $US97.67 a barrel on the ICE Futures Europe exchange in London.

Currencies: Euro down, pound up
The euro retreated as European finance ministers began a key two-day meeting in Brussels with conjecture they might not agree to expand the euro zone's financial stability fund.

The euro was trading at $US1.3293, compared with $US1.3375 late on Friday in New York. The US dollar was at ¥82.80, down from ¥82.97 late on Friday.

Sterling rose to $US1.5911, from $US1.5874, and the dollar was at 0.9647 Swiss francs, little changed from 0.9643 francs.