The Nikkei gained 127.48 points to 8,287.49, after falling last week to a low of two and a half years.Government sources in Rome say they know nothing of any request for assistance from outside of Italy.

A trader in Tokyo noted, however, that markets remain very cautious about the debt crisis in the euro area.

"I thought that Italy would stabilize somewhat after the departure of (Silvio) Berlusconi, but the degradation of Belgium and the high yield suggests that Europe has entered a black hole," said Fumiyuki Nakanishi, strategist at SMBC Friend Securities.

"We do not know where is the next mine."

If we add also the data from Iceland, Norway and Switzerland, the decline was slightly less marked, to -1.4%.

Over the period from January to October, registrations show a decline of 1.2% over the same period in 2010 (-0.9% with Iceland, Norway and Switzerland) to 11,126,000 units.

In Germany, the number of registered vehicles rose 0.6% in October compared to last year (9.8% over 10 months), while in France, sales were up 2.4% Last month, a slight increase of 0.4% over 10 months to 1.829 million units.

The number one European car Volkswagen rose by 3.7% of sales in October, all brands, while the runner, French PSA Peugeot Citroen, saw his fall by 6.4% the month last.

For its part, Renault has declined by 2.3% in October and Fiat a drop of 10.3%.

The Nikkei lost 62.08 points to 8,988.39 and the Topix, larger yielded 7.37 points (0.96%) to 764.06.

The Bank of Japan intervened in foreign exchange markets to counter speculation that makes the yen to rise and threatens to seal the country's recovery after the earthquake of March, announced the Minister of Finance Jun Azumi.

The Nikkei took up 1.1% immediately after the announcement, which reduced the yen against the dollar, and some investors doubted that the yen could remain permanently low, took the opportunity to pocket their profits.

Honda Motor, Toshiba and Panasonic have lost respectively 3.68%, 3.86% and 2.06%, while their results were expected after the close. The three exporters are not only affected by the force of the Japanese currency but are in addition to their production in Thailand affected by the floods.

Greek Prime Minister George Papandreou would meet with French President Nicolas Sarkozy in Paris on Friday to discuss the plan to end the crisis, said on Thursday a source close to the case in Athens. France is one of the main funders of Greece, with Germany, which was Tuesday Papandreou, who met with Chancellor Angela Merkel. The Chancellor said it was awaiting the findings of the audit conducted by the troika of the country's creditors, representatives of the EU, the ECB and IMF, who arrived Thursday in Athens to whether there should or not renegotiate the terms of the second international aid plan decided on July 21 in Brussels by the euro area.

"Should we renegotiate, or not renegotiate? We would prefer of course that the figures remain unchanged, but I can not predict (the outcome of) the troika," said German Chancellor Wednesday in an interview with Greek state television NET . "We were obviously disappointed that apparently the numbers (the Greek budget deficit, Ed) in September were not as they should be. So we must wait and see what conclusions the troika arrives, the mission experts, what it tells us, "said Merkel.

For its part, the French Minister of Economy, Baroin said Wednesday evening that there was "no alternative" to the background, being ratified in several countries in Europe. "We have a plan" and "yes, France will continue to support the strategy of support" to a partner in the euro area, saidBaroin to the public television channel France 2. "This is the only strategy," he said. "There is no alternative to the declination of the agreement of July 21" and "there is no alternative to the implementation" of the European emergency fund, the EFSF, he said.

The plan, according to the French minister, will "ensure and support measures over time and measures to prevent contagion in large countries such as Spain and Italy." The European Agreement of 21 July expanded the toolbox of EFSF, which was established in 2010 to help countries in financial difficulty.It provides support some 160 billion euros to Greece to avoid bankruptcy, and most importantly, for the first time, the involvement of private banks in the rescue process, which agreed to voluntarily participate in an exchange program bonds when they lose 21% of their implementation, to avoid losing everything in case of bankruptcy of the country. Heads of Mission of the troika comprising the three main creditors of the countries (EU, IMF and ECB) are scheduled to resume Thursday in Athens their audit of the accounts of Greece after almost a month break.

The world number two services for conformity assessment and certification, which has already almost doubled its turnover since its IPO in October 2007, intends to repeat this performance with an average growth of 9% to 12 % per year of its activity on the duration of the new plan.

In 2010, its turnover stood at 2.93 billion and surpasses three billion in the latter part of 2011.

"The 2012-2015 plan is a plan for development and growth rather ambitious in a difficult economic environment," said Frank Piedelièvre, CEO of Bureau Veritas, during a media teleconference.

"Especially because the trends of the markets where we operate are supported by fundamentals have not changed, including regulations and standards for safety and environment, which are deployed in particular in emerging countries."

The group estimates that the high-growth areas will weigh about 55% of its turnover within five years, against just under half now.It does however make a third of the growth target in the plan through acquisitions turned primarily to the mature markets.

Bureau Veritas has also set a target increase of 100 to 150 basis points of operating margin adjusted, stood at 16.3% on average over the last twelve months to June 30, and annual growth in its adjusted EPS 10% to 15% over the plan period.

The action group, held March 31 to 51.2% by Wendel, took 1.16% to 54.22 euros at 9:25 after advertising in a market generally downward trend, showing a market capitalization of 5 , 92 billion euros. At this price level, the title lost 4.4% since the beginning of the year, after rising by almost 56% over the whole of 2010.

The car, based on a flexible architecture provided by the partner Daimler, will probably not built by Daimler plants nor by those of Nissan.

Besides the goal of exceeding the Lexus brand of Toyota in Europe, Infiniti also hopes to avoid the effect of a strong yen.

"Lexus is paralyzed by the yen to 77 per dollar, that puts them on their knees," said one source.

The Nikkei lost 2.31% or 201.99 points to 8,535.67 and the Topix, broader, sold 14.44 points (-1.91%) to 741.26.

Philipp Rösler, German Economy Minister and leader of the liberal FDP, partner of the CDU Angela Merkel in the ruling coalition in Berlin, said that a possible failure of Greece was not taboo.

The possibility of quitting the euro area held at arm's Greece arises after investors were caught off guard by Friday's resignation of Jürgen Stark CEO of the European Central Bank (ECB) because of disagreements on the response to the crisis.

"It is Europe that is at the center of attention, but concerns about the U.S. economy have not gone away Fumiyuki Nakanishi (…)", said.

The index futures on Wall Street seem to suggest a decline, which would come after the fall of more than 2% suffered Friday in the wake of the resignation of Jürgen Stark and the feeling that European leaders can no longer control the crisis debt.

The title Suzuki sold 2.75% after Volkswagen said on Sunday that the manufacturer had breached the terms of their partnership.

At 9:33, the CAC 40 is 0.16% to 3004.63 points after passing briefly under the psychological barrier of 3,000 points.

The third global brand PC has been driven by strong sales in China and other emerging markets but faces the risk of a collapse in demand in Europe and the United States as it embarks on the tablets (Lepad) and smartphones (Lephone) alongside giants Apple and Samsung.

Lenovo's net income nearly doubled in the first quarter ended in June, standing at 108.8 million dollars against 54.9 million a year earlier.Analysts polled by Thomson Reuters I / B / E / S on average expected 78.6 million.

Lenovo makes 48% of its sales in China, where it is the industry leader with a market share of 31.7%, according to its own figures and those of IDC.

Worldwide, the market share of the group jumped to 12.2% against 9.9% in the first three months of the year.

"(…) The challenges facing the global demand for personal computers remain, such as the pace of recovery in the global economy and the continuing crisis of debt in Western Europe ", stressed, however, the group in a statement.

By 0700 GMT, the action Lenovo fell by 7.76% at the Hong Kong Stock Exchange, while the Hang Seng index feature yielded 1.25%.

Wednesday on Wall Street, Dell unscrewed from 10% after the world number two sector published a quarterly revenue slightly below expectations and said a stagnation in sales for the quarter.

The Heads of State and Government of the euro area will meet Thursday in Brussels to determine the mode of a second aid package to Greece.

The options detailed in tabular form in the document differ in the degree and type of private sector involvement.

The drafters of the document also assess the likely impact of proposed measures on the sovereign rating of Greece, especially regarding the risk of seeing it placed in default, full or selective.

The variables are the amount of aid paid by the European Financial Stability (EFSF), the impact on the interest rate and maturity of loans EFSF, and the potential for debt management following completion of the Greek operation.

COMPLETE FAILURE RISK

The first option would be based on a redemption of Greek debt and credit enhancement ("credit enhancement") to the private sector, but it would likely defect selective or comprehensive in the country.

The document does not specify the nature of credit enhancement contemplated.

Mechanisms commonly used in the context of credit enhancement to use securitization, collateral and other guarantees that the holder of debt may receive as repayment of the debt.

Sources in the euro area reported that in one scenario, new Greek bonds of maturity 30 years would be exchanged against the existing Greek debt and that these new obligations would be guaranteed by the paper receiving the AAA rating , for example from

EFSF.

No figures are mentioned, but the document states that the cost of a rescue following this first option would be the sum of the Greek rescue plan, plus the cost of credit enhancements, plus the redemption of debt, most of the recapitalization banks of the country, the collateral provided by the European Central Bank, unless the private sector.

Taxing the financial sector

The second option, which could be based on the solution proposed by the French banks for working capital (rollover) of the debt does not include credit enhancement and does not repurchase debt.

It would lead a selective default, the document warns.

The cost to the EFSF would be that the new Greek program, plus that of the recapitalization of Greek banks and collateral to the European Central Bank (ECB), less the contribution of the private sector.

This solution would require the support of EFSF lower borrowing rates and longer maturities on its loans.

The ultimate impact on Greece's debt would depend on the effort could provide the EFSF on both counts.

The third solution, which would be less likely to trigger a selective default, provides for the taxation of the financial sector, and also offers lower rates and longer maturities on EFSF funds (European Fund for financial stability).

This solution not likely to cause a fault.The cost for the euro area is lower than the other two, since it would include the aid plan itself, minus the contribution of the private sector.

Again however, the EFSF would be forced to lower interest rates and extend the maturity of its loans to increase the positive impact on Greek foreign debt.