By Justin Carrigan Oct. 5 (Bloomberg) -- The dollar fell after Group of Seven finance ministers omitted any mention of the currency’s weakness in their final communique. European stocks and U.S. index futures gained. The U.S. currency declined against 13 of its 16 most-traded peers as of 12:17 p.m. in New York. The yen slipped versus all 16 after Finance Minister Hirohisa Fujii said the government will act if the foreign-exchange market moves in a “biased direction.” The Dow Jones Stoxx 600 Index of European shares rose for the first time in four days, adding 0.4 percent. Futures on the Standard & Poor’s 500 Index increased 0.6 percent. Finance ministers and central bankers from the G-7 nations avoided any reference to the American currency’s decline, which sent the Dollar Index down 5 percent this year, after their Oct. 3 talks in Istanbul. Europe’s manufacturing and services industries expanded more than initially estimated in September, London-based Markit Economics said. In the U.S., service industries probably snapped 11 straight declines, a separate monthly report may show. “A weaker dollar helps with the goal of global rebalancing, which appears to be a larger aim of the G-7,” Sophia Drossos, head of currency strategy at Morgan Stanley in New York and a former foreign-exchange manager at the Federal Reserve, wrote in a report today. This “reinforces our view that as long as a weak dollar is largely reflective of rate and growth differentials, the G-7 is unlikely to stand in the way.” Roubini, Geoghegan New York University Professor Nouriel Roubini, who predicted the financial crisis, said stock and commodity markets may drop in the coming months as investors come to realize the recovery won’t be rapid. HSBC Holdings Plc Chief Executive Officer Michael Geoghegan is convinced there will be a second global economic slump and doesn’t want the bank to grow too fast, the Financial Times reported, citing an interview. Telecommunications companies helped lead the rebound in Europe’s Stoxx 600, which retreated 3.9 percent in the previous three days. Telenor ASA, the biggest Nordic phone company, surged 13 percent in Oslo after ending a dispute over control of OAO VimpelCom, Russia’s second-largest mobile company. Banco Santander SA added 2.1 percent in Madrid. The company’s Brazilian unit may sell shares near the top of its price range this week in an attempt to raise as much as 13.1 billion reais ($7.4 billion.) U.S. Stocks The gain in U.S. futures indicated the S&P 500 may rebound after four straight days of declines. Stocks retreated after the U.S. Labor Department said unemployment rose to 9.8 percent, the Institute for Supply Management’s factory gauge showed that American manufacturing expanded less than economists estimated and the New York-based Conference Board said consumer confidence unexpectedly fell. The Institute for Supply Management’s index of U.S. non- manufacturing businesses, which reflects almost 90 percent of the economy, rose to 50, according to the median of 64 forecasts in a Bloomberg News survey. Fifty is the dividing line between expansion and contraction. Alcoa Inc. is scheduled to report third-quarter results on Oct. 7, the first among Dow Jones Industrial Average companies. Fairfield, Connecticut-based General Electric Co. and Intel Corp. of Santa Clara, California, are among the 45 S&P 500 companies that will release earnings in the next two weeks. Earnings Decline Analysts surveyed by Bloomberg estimate that operating income at S&P 500 companies dropped 23 percent in the July- September period, the ninth straight decrease. The longest streak of profit declines for U.S. companies since the Great Depression would continue in the year’s final three months if not for a 132 percent gain in profit at financial firms, according to forecasts compiled by Bloomberg. The MSCI Emerging Markets Index slipped 0.04 percent to a three-week low. Samsung Electronics Co., which gets 19 percent of sales from America, fell 5.7 percent, sending South Korea’s Kospi Index down 2.3 percent to the lowest in more than a month. India’s Bombay Stock Exchange Sensitive Index declined 1.6 percent. The U.S. currency’s drop helped bolster the allure of dollar-denominated commodities. Copper for delivery in three months rose 0.2 percent to $5,891 a metric ton on the London Metal Exchange. Aluminum, nickel and zinc also advanced. Gold for immediate delivery gained 0.2 percent to $1,004.47 an ounce. Crude oil for November delivery was down 1.2 percent at $69.14 a barrel in New York. The cost of protecting European corporate bonds from default fell for the first time in four days, according to traders of credit-default swaps. The Markit iTraxx Crossover Index of 50 companies with mostly high-yield credit ratings dropped 18 basis points to 591, JPMorgan Chase & Co. prices showed, signaling an improvement in perceptions of credit quality.

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