A look at economic developments around the globe (AP)

A look at economic developments and activity in major stock markets around the world Thursday:

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ROME ? Italy's borrowing costs fell for a second day but the country's new premier said his government has more to do before it convinces financial markets it can manage the heavy debts that have made it the focus of the eurozone crisis.

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LONDON ? In Europe, the FTSE 100 index of leading British shares closed up 1.1 percent while the CAC-40 in France rose 1.8 percent. Germany's DAX ended 1.3 percent higher.

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TOKYO ? In Asia, Japan's Nikkei 225 index fell 0.3 percent. Hong Kong's Hang Seng Index closed 0.7 percent.

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BERLIN ? An official estimate shows that the year-on-year inflation rate in Germany, Europe's biggest economy, declined to 2.1 percent in December.

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ATHENS, Greece ? Greek tax officials walked off the job at the start of a 48-hour strike to protest salary cuts and other austerity measures, as the government struggles to meet revenue targets demanded by the country's international creditors.

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HANOI, Vietnam ? Vietnam's gross domestic product grew at a slower pace this year than a year ago amid doubling inflation and a trade deficit.

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Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20111229/ap_on_bi_ge/us_economy_countries_glance

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