the ifo declining a fifth month in a row. warning that german momentum slacking in the third quarter. also said downward trends are still dominating especially for exports. that news projected the euro down to 1.29. >> and if you're just joining us, these are your headlines. a surprise fall for the ifo index furnishing tpushing the e stocks lower. >> athens denies reports of a smart powell. >>> and foxconn shutting down a factor involving a brawl involving 2,000 workers. the company has been forced to close it factory in northern china, dispute with, woulders escalated in to a massive brawl involving 2,000 people late sunday. foxconn says 40 people were injured and a number of workers arrested. the company has a history of labor unrest. >> apple does it again, a new report has found the first three days of impt phonof i iphone 5 equaled a month of iphone 4s. the explanation, more people are in the smartphone market than ever before and that there were a substantial amount of holdouts waiting for the 5. >> staying with tech, b

the economy is not heading for a downturn, even though growth is slowing. >> on to the markets, the ifo reading combined with profit- taking, prompting investors to sell. our correspondent sent us this summary from frankfurt. >> the week of -- the weaker- than-expected reading of the ifo index dragged down the week. shares dropped. not many thought that the index would drop -- would bottom out. now they think the german economy will face some difficulties in the near future. there have been many rumors and speculation that the euro area members could leverage the rescue fund, esm, to 2 trillion euros. germany's finance inister said this would not be very realistic. on the other hand, the euro has been weakened by these rumors. >> the dax fell by one half of 1% to finish at 7413. euro stoxx 50 was down by 3/4 of 1%. the dow is trading slightly higher, 13,586 points. the euro is trading at about you of 1.2930. -- at a value of 1.2930. >> another big discussion is the pros and cons of genetically- modified food. proponents say it can help eliminate allergies or grow food stricken by drough

how could this be justified. >> silvia, what was the reaction of the bdi to the ifo survey? >> what you get out here, they're still relatively confident. order books are still quite full for the large part of industry. and they're going still at full steam. the concern is more about how we're tackling these issues for the future. there is still greater concern about whether the pressure will be kept on with politicians and whether they will actually come up with the kind of structural reforms that are needed. so that's the biggest question mark out here. >> all right. thanks for that. is that a stairway to heaven or hell? >> that is open to debate. only the future will tell, isn't it. >> i want to check it out, though. thanks for that. >> stick around because still to come on the program, why australian banks are anything but down under. we'll ask one guest whether they're likely to keep their good fiscal health in the years ahead. sleep train's inventory clearance sale is ending soon. save 10%, 20%, even 35% on a huge selection of simmons and sealy clearance mattresses. get

liz: ifo -- i-f-o, the german sentiment. people put emphasis into that. the recent health care law will hit the economy if not repealed. who did the survey? >> it's a really important survey, done by the national association of business economics, top economists at the country's biggest companies at places like dupont or wells fargo. the majority, 75% says health korsts continue to rise, and 60% say fewer employers provide coverage in the near future, and four out of the ten was the repeal of the health care law. the majority, nine out of ten said what is hanging up the u.s. economy is dc fiscal policy. the majority said make permanent the income tax rate, capital gains rate, and dividends rate, and and -- seven out of ten approved the pipeline. liz: how does the country run when nobody wants to do anything? who knows. apple. this is a huge story today, although the stock is rebounding a bit from having lost a decent chunk here. >> up substantially, but i'll repeat peter's "yeah" in terms of apple selling a little over 5 million. it's a great number, but

and i also wrote it for veterans because i had to struggle with a lot of thicks.e ifo i thought, well with if i can struggle with the things andtrug gate little bit clarity somebodo reading it might be helped. it to write it for the w general public and the policyub makers i'll get in to the speech it's very important a to understand that we are involved. very deeply in our wars but we tend to think we're not. i opened the book with a quote from bismarck and one of my favorite quotes when and he said any fool can learn from their my own mistakes.s. i prefer to learn from other peoples' mistakes.efer and i thought, if i can put some of the mistakes i learned the hard way, maybe someone else would do it. and here's where i launch in to the story. we were on an assault, and going up a steep hill, and by this time it had broken down toby thi chaos. you have the plans but as everybody will tell you as soon as the first shot is fired it goes poof. the way it gets down is 18-year-old allege 189-year-old t hore out the objective and they figure out how to get that. h two hand grenades came fr

it has a lot to do with the the move lower after we get the ifo results. it's a quiet week. certainly we've seen the initial bout of euphoria and now a bit of give back. it also wasn't helped by the fact that ifo sentiment which is a key gauge of german business sentiment fell unexpectedly for the fifth straight month in a row. you can see the reaction here. the ftse 100 is down 0.6%. we've also seen losses in the paris market, ibex 35 here in spain down 1.7%. it doesn't help by the way that we're getting this kind of receipt tore rim out of the german finance ministry after reports over the weekend that the esm could be leveraged up to 2 trillion euros to hundred support economies like spain and italy. now they're walking back the claims. saying the actual figure is still to be decided. explains why we're seeing a little momentum to the down side here. italy and spain seeing a little bit of a selloff. really getting back to the levels that were dominating before. again a lot of the central bank action over the last couple weeks. ten year bund yields fall to go 1.56% despite