Deutsche Telekom AG, the largest telephone company in Germany, reported fourth-quarter profit before some items that missed analysts' estimates because of higher costs to add customers in Germany and hold the mobile phone subscriptions in the U.S.

Deutsche Telekom shares fell 10 percent in the last quarter of 2012, compared with a 7.5 percent decline in the 25 - company Bloomberg Europe Telecommunication Services Index. Shares lost 4.3 percent this year and closed yesterday at 8.23 ​​euros, valuing the carrier at 35.6 billion euros.

Market News

WallStreet revenues Bernanke comments, S & P above 1,500

Shares rose on Wednesday, with major indexes placing its best daily gain since early January, as Federal Reserve Chairman Ben Bernanke remained steadfast in support of an enabling policy and Fed data indicated improvement in the economic situation.

On the second day before congressionalcommittee, Bernanke defended the Fed's purchases of bonds to keep interest rates low to stimulate economic growth. Move the market by more than 1 percentage also came to the better-than-expected data on business spending plans and the housing market.

Bernanke's comments helped the market rebound from its worst drop since November and put the S & P 500 above 1,500 indexback, closely followed level that support until recently. Index Dow Jones Industrial Average closed at a level not seen since 2007, he again pulled within reach all time high.

Speaking before the House Committee on Financial Services, Bernanke downplayed signs of internal divisions in the Federal Reserve, stating that the policy of quantitative easing, or QE, has the support of "the vast majority" of senior officials of the central bank.

Bernanke removed from markets headwind arising from problems of quantitative easing, the Fed may end sooner than expected. Doubts about the intentions of the Fed violated seven consecutive weeks of income from shares.

"The Fed continues to promote risk in the markets, which is a powerful tool that makes the danger is not in the long-term action, without being too long," said Tom Mangan, a financial manager at James Investment Research Inc Xenia, Ohio.

Index Dow Jones Industrial Average rose 176.32 points, or 1.27 percent, to 14,076.45. 500 Index Standard & Poor was up 19.07 points, or 1.27 percent, to 1,516.01. The Nasdaq Composite Index rose 32.61 points, or 1.04 percent, to 3,162.26.

Pending home sales jumped 4.5 percent in January, more than three times the growth rate that had been expected. While orders for durable goods fell more than expected in January, not defense capital goods orders excluding aircraft - closely watched proxy for business spending plans - showed the biggest gain since December 2011.

About 74 percent of the shares traded on the New York Stock Exchange closed with an increase while 64 percent of Nasdaq-listed shares closed.

S & P has been very slightly higher for the week, recovering from the biggest daily drop in the index from November to Monday. This drop came on concern about the elections in Italy, as well as sequestration - the U.S. government budget cuts, which will come into effect from Friday if lawmakers fail to reach an agreement on spending and taxes.

The index rose 6.3 percent over the year before going concerns about the Fed's policy and inconclusive elections in Italy, which has revived fears of a new crisis of the euro area debt.

"While the meeting remains unchanged, and there is reason for long-term bullish here, there are also reasons not to be surprised if we get a correction," said Mangan, who helps control $ 3.7 billion.

In earnings news, Priceline.com gained 2.6 percent to $ 695.91 after reporting adjusted earnings expectations that beat. TJX Cos Inc jumped 2.5 percent to $ 44.75 after the operator of retail chain posted higher fourth-quarter results.

S & P retail index rose 1.6 percent.

Target Corp offered a cautious outlook in consumer spending in 2013, after a weak holiday quarter. The stock dipped 1.1 percent to $ 63.32.

First Solar Inc fell 14 percent to $ 27.04 after a failed attempt at a full-year earnings and sales forecast, though he turned in quarterly profit.

Groupon Inc fell 21 percent to $ 4.70 after the bell after reporting its fourth-quarter results.

With 93 percent of the S & P 500 companies that have reported results so far, 69.5 percent to beat profit expectations, compared with 62 percent of the average in 1994 and 65 percent over the past four quarters, according to Thomson Reuters.

In the fourth quarter earnings for S & P 500 companies are estimated to have grown by 6.2 percent, according to the data above the 1.9 percent forecast at the beginning of earnings season.

About 6.23 billion shares changed hands on the New York Stock Exchange, NYSE, Nasdaq and MKT, slightly below the daily average this year of about 6.48 billion shares. Reuters.com

Currencies

Eurosaved smooth debt sales in Italy, the yen resumes origin

The euro held its ground against the dollar and the yen on Thursday, euro bulls to the heart after the auction relativelysmooth Italian government bonds helped character concerns over the political stalemate in the country.

Strong business data costs the U.S. also boosted investor sentiment, easing concerns about the looming U.S. fiscal spending cuts and encourages the yen resumed its descent after a brief spell a sharp rise at the beginning of this week.

"Looking at the main U.S. capital goods orders, there is absolutely nothing unhealthy in it. It shows Americanbusinesses, does not seem to worry about cutting costs. Given that there will be limited to the lack of dollar / yen," said Hideki Amikura, forex manager at Nomura Trust Bank.

The single currency rose 0.1 percent to $ 1.3147, then, compared to more than four-fifths of the loss, which he did after inconclusive Italian elections, which had currency before aneight week trough $ 1.3018 Tuesday.

Technically, the single currency has managed to keep holding above the important support of the diagrams at the bottom of thedaily Ichimoku charts, the break of which would be a major bearish signal flashed on the currency.

Against the yen, the euro was up 0.2 percent on the day to 121.45 yen, slowly away from a five-week low of 120.20 yen set on Monday.

Of Italian government bonds on Wednesday drew solid demand, helping to calm jitters that the political impasse could destabilize the second-largest European market sovereign debt.

The euro was indifferent to the hopes of reducing the coalition government - and the increased chance of a new election - in Rome, with the two most likely options coalition falling apart.

Anti-establishment movement of the 5-star boss Beppe Grillo slammed the door overtures from the center-left leader Pierluigi Bersani, while junior coalition partner in the Bersani possible alliance with former Prime Minister Silvio Berlusconi's center-right.

While uncertainty Italy could limit the euro, some market participants say the restoration of the euro in the last couple of days to the majority of investors do not consider the recent political turmoil in Rome as a major threat to debt financing in Italy.

The new governor

Stable euro, at the moment, saw the retreat of the dollar index of six-month high of 81.948 reached earlier this week. This was the last to 81.559.

On the yen, the dollar was slightly stronger at 92.42, finding his position after the slide on Monday at 90.85.

The yen showed no reaction when the Japanese Prime Minister is appointed, as expected, the Asian Development Bank President Haruhiko Kuroda, the Bank of Japan governor and Kikuo Iwata, academic, as one of two deputy governors.

Expectations of a more aggressive easing prompted investors to push the yen to a 33-month low against the dollar on Monday, which marked a 16 percent drop since mid-November.

Parliament is expected to approve the nomination, clearing the way for the central bank to introduce fresh easing steps in April, or at their first policy review in April 3-4, and next on April 26.

"The market will need some consolidation after such a long period of unilateral falls against the yen. But there is no doubt that the yen is in a downtrend in the long term," said Nomura Trust's Amikura.

"I expect that the yen falls more in April, as the market bet on fresh monetary easing by the Bank of Japan meeting in late April," added Amikura.

Dollar loses his Japanese counterpart, even after Federal Reserve Chairman Ben Bernanke once again defended the power of weakening the central bank's monetary policy.

Bernanke to Congress panel on the second day, and downplayed signs of internal divisions, saying that the policy of quantitative easing has the support of "the vast majority" of senior officials of the central bank.

The dollar was also propped datashowing planned business costs the U.S. recorded the largest increase in more than a year in January.

Dollar still survive the threat of sharp U.S. fiscal spending cuts, known as the "absorption", which according to analysts, would reduce U.S. economic growth by about 0.5 percent.

Automatic spending cuts of 85 billion dollars seem to be more likely to start as planned on Friday, U.S. President Barack Obama and the Republican Congress leader nowherenear deal to avoid them.

"I think the market quietly, partly because the payroll tax hikes, which began earlier this year, has not done much damage to risk appetite," said Teppei Ino, a currency analyst at Bank of Tokyo-Mitsubishi UFJ-. Reuters.com