21 October 2004, 14:11  U.S. Stock-Index Futures Decline; AIG Shares Slip in Europe

U.S. stock-index futures declined after American International Group Inc. said it's the target of a federal grand jury investigation about its contract with cellular phone company BrightPoint Inc. Standard & Poor's 500 Index futures expiring in December slipped 2.2 to 1099.60 as of 10.18 a.m. in London, while Nasdaq- 100 Index futures lost 1.5 to 1451.50. Dow Jones Industrial Average futures slid 22 to 9845. Twenty-two of the 26 Dow stocks trading in Europe fell.
AIG, the world's largest insurer, fell 57 cents to $57.03 in Germany. Chief Executive Maurice ``Hank'' Greenberg is clashing with regulators a year after paying $10 million to settle allegations the company helped Brightpoint hide losses. The SEC said the insurer failed to cooperate in that probe. The insurer also said third-quarter profit rose 7.5 percent from the year-earlier period to $2.51 billion on fewer investment losses. ///www.bloomberg.com

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