Pope confident his resignation will not hurt Church

ROME (Reuters) - A visibly moved Pope Benedict tried to assure his worldwide flock on Wednesday over his stunning decision to become the first pontiff in centuries to resign, saying he was confident that it would not hurt the Church.

The Vatican, meanwhile, announced that a conclave to elect his successor would start sometime between March 15 and March 20, in keeping with Church rules about the timing of such gatherings after the papal see becomes vacant.

"Continue to pray for me, for the Church and for the future pope," he said in unscripted remarks at the start of his weekly general audience, his first public appearance since his shock decision on Monday that he will step down on February 28.

It was the first time Benedict, 85, who will retire to a convent inside the Vatican, exchanging the splendor of his 16th century Apostolic Palace for a sober modern residence, had uttered the words "future pope" in public.

Church officials are still so stunned by the move that the Vatican experts have yet to decide what his title will be and whether he will continue to wear the white of a pope, the red of a cardinal or the black of an ordinary priest.

His voice sounded strong at the audience but he was clearly moved and his eyes appeared to be watering as he reacted to the thunderous applause in the Vatican's vast, modern audience hall, packed with more than 8,000 people.

In brief remarks in Italian that mirrored those he read in Latin to stunned cardinals on Monday he appeared to try to calm Catholics' fears of the unknown.

He message was that God would continue to guide the Church.

EXAMINATION OF CONSCIENCE

"I took this decision in full freedom for the good of the Church after praying for a long time and examining my conscience before God," he said.

He said he was "well aware of the gravity of such an act," but also aware that he no longer had the strength required to run the 1.2 billion member Roman Catholic Church, which has been beset by a string of scandals both in Rome and round the world.

Benedict said he was sustained by the "certainty that the Church belongs to Christ, who will never stop guiding it and caring for it" and suggested that the faithful should also feel comforted by this.

He said that he had "felt almost physically" the affection and kindness he had received since he announced the decision.

When Benedict resigned on Monday, the Vatican spokesman said the pontiff did not fear schism in the Church after his decision to step down.

Some 115 cardinals under the age of 80 will be eligible to enter a secret conclave to elect his successor.

Cardinals around the world have already begun informal consultations by phone and email to construct a profile of the man they think would be best suited to lead the Church in a period of continuing crisis.

The likelihood that the next pope would be a younger man and perhaps a non-Italian, was increasing, particularly because of the many mishaps caused by Benedict's mostly Italian top aides.

Benedict has been faulted for putting too much power in the hands of his friend, Secretary of State Cardinal Tarcisio Bertone. Critics of Bertone, effectively the Vatican's chief administrator, said he should have prevented some papal mishaps and bureaucratic blunders.

ILL-SERVED POPE

"These scandals, these miscommunications, in many cases were caused by Pope Benedict's own top aides and I think a lot of Catholics around the world think that he was perhaps ill-served by some of the cardinals here," said John Thavis, author of a new book The Vatican Diaries.

Benedict's papacy was rocked by crises over sex abuse of children by priests in Europe and the United States, most of which preceded his time in office but came to light during it.

His reign also saw Muslim anger after he compared Islam to violence. Jews were upset over rehabilitation of a Holocaust denier. During a scandal over the Church's business dealings, his butler was accused of leaking his private papers.

"When cardinals arrive here for the conclave ... they are going to have this on their mind, they're going to take a good hard look at how Pope Benedict was served, and I think many of them feel that the burden of the papacy that finally weighed so heavy on Benedict was caused in part by some of this in-fighting (among his administration)," Thavis told Reuters.

Vatican spokesman Father Federico Lombardi urged the faithful to remain confident in the Church and its future.

"Those who may feel a bit disorientated or stunned by this, or have a hard time understanding the Holy Father's decision should look at it in the context of faith and the certainty that Christ will support his Church," Lombardi said.

Lombardi said that on his last day in office, Benedict would receive cardinals in a farewell meeting and after February 28 his ring of office, used to seal official documents, would be destroyed just as if he had died.

Later on Wednesday, an Ash Wednesday Mass that was originally scheduled to have taken place in a small church in Rome, has been moved to St Peter's Basilica so more people can attend.

Unless the Vatican changes the pope's schedule, it will be his last public Mass.

(Reporting By Philip Pullella; Editing by Giles Elgood)

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Dear Jessica Chastain, We've Found Your Oscars Gown!

Stylewatch
Style News Now

02/13/2013 at 12:05 PM ET

Kristina Bumphrey/Startraks; Inset: WireImage

As we pull together our Academy Awards gown predictions, we’ve had the hardest time picking one for Jessica Chastain. She’s gorgeous, talented and impossible to anticipate on the red carpet, not favoring any one designer or color, and we were stumped.

But the moment we watched this rich violet peplum number sashay down the Oscar de la Renta runway Tuesday night, we knew we’d found the perfect look for her big night on Feb. 24. First of all, the color was practically made to complement her fair complexion — and in a sea of nudes, blacks and reds, the vivid hue is sure to stand out.

It’s also a blend of fashion-forward and body-conscious, a combination the actress seems to favor. Finally, that neckline is just begging for some major diamond chandeliers or a beautiful diamond choker (by Harry Winston, of course — her go-to jeweler for big events).

Now that we’ve pictured it, we’ll be devastated if our wish doesn’t come true, so let’s just hope she’s an avid reader of the site. Tell us: Do you agree with our pick for Jessica Chastain’s Academy Awards gown? If not, what do you want to see her wear?

–Alex Apatoff

SEE MORE MAJOR STAR RED CARPET MOMENTS HERE!

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Report: Tracking system needed to fight fake drugs

WASHINGTON (AP) — Fighting the problem of fake drugs will require putting medications through a chain of custody like U.S. courts require for evidence in a trial, the Institute of Medicine reported Wednesday.

The call for a national drug tracking system comes a week after the Food and Drug Administration warned doctors, for the third time in about a year, that it discovered a counterfeit batch of the cancer drug Avastin that lacked the real tumor-killing ingredient.

Fake and substandard drugs have become an increasing concern as U.S. pharmaceutical companies move more of their manufacturing overseas. The risk made headlines in 2008 when U.S. patients died from a contaminated blood thinner imported from China.

The Institute of Medicine report made clear that this is a global problem that requires an international response, with developing countries especially at risk from phony medications. Drug-resistant tuberculosis, for example, is fueled in part by watered-down medications sold in many poor countries.

"There can be nothing worse than for a patient to take a medication that either doesn't work or poisons the patient," said Lawrence O. Gostin, a professor of health law at Georgetown University who led the IOM committee that studied how to combat the growing problem.

A mandatory drug-tracking system could use some form of barcodes or electronic tags to verify that a medication and the ingredients used to make it are authentic at every step, from the manufacturing of the active ingredient all the way to the pharmacy, he said. His committee examined fakes so sophisticated that health experts couldn't tell the difference between the packaging of the FDA-approved product and the look-alike.

"It's unreliable unless you know where it's been and can secure each point in the supply chain," Gostin said.

Patient safety advocates have pushed for that kind of tracking system for years, but attempts to include it in FDA drug-safety legislation last summer failed.

The report also concluded that:

—The World Health Organization should develop an international code of practice that sets guidelines for monitoring, regulation and law enforcement to crack down on fake drugs.

—States should beef up licensing requirements for the wholesalers and distributors who get a drug from its manufacturer to the pharmacy, hospital or doctor's office.

__Internet pharmacies are a particularly weak link, because fraudulent sites can mimic legitimate ones. The report urged wider promotion of the National Association of Boards of Pharmacy's online accreditation program as a tool to help consumers spot trustworthy sites.

The Institute of Medicine is an independent organization that advises the government on health matters.

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Wall Street flat, S&P 500 touches November 2007 high

NEW YORK (Reuters) - Stocks were little changed on Wednesday after the S&P 500 index hit a November 2007 intraday high, but volume was low and investors stayed cautious with indexes near multi-year closing highs.

The benchmark index got a boost from Comcast Corp when the cable company said it will buy the rest of NBC Universal for $16.7 billion from General Electric Co .

Equities have been strong performers until recently, buoyed largely by healthy growth in corporate earnings, which helped the S&P 500 to rise 6.5 percent so far this year. The Dow industrials are about 1 percent away from an all-time intraday high, reached in October 2007.

Those gains could leave the market vulnerable to a pullback as investors take profits amid a dearth of new catalysts. While analysts see an upward bias in stocks, recent daily moves have been small and trading volumes light with indexes at multi-year highs.

"I was expecting a 12-15 percent return on the S&P for the whole year of 2013, and we have done about half of that in just 5-6 weeks," said Jack De Gan, principal at Harbor Advisory in Portsmouth, New Hampshire.

"We will hit resistance, but the fundamentals and micro picture are looking good, so if there is a correction it's going to be a brief one."

The Dow Jones industrial average <.dji> was down 52.99 points, or 0.38 percent, at 13,965.71. The Standard & Poor's 500 Index <.spx> was down 0.61 points, or 0.04 percent, at 1,518.82. The Nasdaq Composite Index <.ixic> was up 3.35 points, or 0.11 percent, at 3,189.85.

Economic data proved no catalyst giving investors direction. The government said retail sales rose 0.1 percent in January, as expected. Tax increases and higher gasoline prices restrained spending.

The S&P 500 was well over its 50-day moving average of 1,460.92, a sign the market could be overbought.

Comcast agreed late Tuesday to buy General Electric Co's remaining 49 percent stake in NBC Universal for $16.7 billion. Comcast jumped 6.2 percent to $41.40 as the S&P's top percentage gainer while Dow component GE was up 3 percent to $23.26.

Deere & Co reported earnings that beat expectations and raised its full-year profit outlook. After initially rallying in premarket trading, the stock fell 2.3 percent to $91.80.

According to the latest Thomson Reuters data, of the 353 companies in the S&P 500 that have reported results, 70.3 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters.

Fourth-quarter earnings for S&P 500 companies are estimated to have risen 5.3 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

Industrial and construction shares were lower even though in his State of the Union address President Barack Obama called for $50 billion in spending to create jobs by rebuilding degraded roads and bridges.

The Dow Jones Home Construction index <.djushb> was off 0.2 percent.

(Reporting By Angela Moon; Editing by Kenneth Barry)

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China joins U.S., Japan in condemning North Korea nuclear test

SEOUL (Reuters) - North Korea conducted its third nuclear test on Tuesday in defiance of existing U.N. resolutions, drawing condemnation from around the world, including from its only major ally, China, which summoned the North Korean ambassador to protest.

The reclusive North said the test was an act of self-defense against "U.S. hostility" and threatened further, stronger steps if necessary.

It said the test had "greater explosive force" than the 2006 and 2009 tests. Its KCNA news agency said it had used a "miniaturized" and lighter nuclear device, indicating that it had again used plutonium which is more suitable for use as a missile warhead.

North Korean leader Kim Jong-un, the third of his line to rule the country, has presided over two long-range rocket launches and a nuclear test during his first year in power, pursuing policies that have propelled his impoverished and malnourished country closer to becoming a nuclear weapons power.

China, which has shown signs of increasing exasperation with the recent bellicose tone of its neighbor, summoned the North Korean ambassador in Beijing and protested sternly, the Foreign Ministry said.

Foreign Minister Yang Jiechi said China was "strongly dissatisfied and resolutely opposed" to the test and urged North Korea to "stop any rhetoric or acts that could worsen situations and return to the right course of dialogue and consultation as soon as possible".

China is a permanent member of the Security Council.

U.S. President Barack Obama labeled the test a "highly provocative act" that hurt regional stability and pressed for new sanctions.

"The danger posed by North Korea's threatening activities warrants further swift and credible action by the international community. The United States will also continue to take steps necessary to defend ourselves and our allies," Obama said in a statement.

The Security Council will meet on Tuesday to discuss its reaction to the test, although North Korea is already one of the most heavily sanctioned states in the world and has few external economic links that can be targeted.

Japanese Prime Minister Shinzo Abe said the test was a "grave threat" that could not be tolerated. U.N. Secretary-General Ban Ki-moon said the test was a "clear and grave violation" of U.N. Security Council resolutions.

Russian Foreign Minister Sergei Lavrov urged North Korea to abandon its nuclear arms program and return to talks. NATO condemned the test as an "irresponsible act" that posed a grave threat to world peace.

The test "was only the first response we took with maximum restraint", an unnamed spokesman for the North Korean Foreign Ministry, which acts as Pyongyang's official voice to the outside world, said in a statement carried by the official KCNA news agency.

"If the United States continues to come out with hostility and complicates the situation, we will be forced to take stronger, second and third responses in consecutive steps."

North Korea often threatens the United States and its "puppet", South Korea, with destruction in colorful terms.

North Korea told the U.N. disarmament forum in Geneva that it would never bow to resolutions on its nuclear program and that prospects were "gloomy" for the denuclearization of the divided Korean peninsula because of a "hostile" U.S. policy.

South Korea, still technically at war with the North after the 1950-53 civil war ended in a mere truce, also denounced the test.

The magnitude was roughly twice as large as that of 2009, Lassina Zerbo, director of the international data centre division of the Vienna-based Comprehensive Nuclear-Test Ban Treaty Organization, said. The U.S. Geological Survey said that a seismic event measuring 5.1 magnitude had occurred.

"It was confirmed that the nuclear test that was carried out at a high level in a safe and perfect manner using a miniaturized and lighter nuclear device with greater explosive force than previously did not pose any negative impact on the surrounding ecological environment," KCNA said.

Despite China's strong response, the test is likely to be a major embarrassment for Beijing, the North's sole major economic and diplomatic ally.

"The test is hugely insulting to China, which now can be expected to follow through with threats to impose sanctions," said Mark Fitzpatrick of the International Institute for Strategic Studies think tank.

North Korea trumpeted the announcement on its state television channel to patriotic music against the backdrop of an image of its national flag.

It linked the test to its technical prowess in launching a long-range rocket in December, a move that triggered the U.N. sanctions, backed by China, that Pyongyang said prompted it to take Tuesday's action.

The North's ultimate aim, Washington believes, is to design an intercontinental ballistic missile capable of carrying a nuclear warhead that could hit the United States. North Korea says the program is aimed merely at putting satellites in space.

North Korea used plutonium in previous nuclear tests and prior to Tuesday there had been speculation it would use highly enriched uranium so as to conserve its plutonium stocks as testing eats into its limited supply of the material that could be used to construct a nuclear bomb.

"VICIOUS CYCLE"

Despite its three nuclear tests and long-range rocket tests, North Korea is not believed to be close to manufacturing a nuclear missile capable of hitting the United States.

South Korea's Yonhap news agency said Pyongyang had informed China and the United States of its plans to test on Monday, although this could not be confirmed.

When North Korean leader Kim, 30, took power after his father's death in December 2011, there were hopes the he would bring reforms and end Kim Jong-il's "military first" policies.

Instead, the North, whose economy is smaller than it was 20 years ago and where a third of children are believed to be malnourished, appears to be trapped in a cycle of sanctions followed by further provocations.

"The more North Korea shoots missiles, launches satellites or conducts nuclear tests, the more the U.N. Security Council will impose new and more severe sanctions," said Shen Dingli, a professor at Shanghai's Fudan University. "It is an endless, vicious cycle."

But options for the international community appear to be in short supply.

Tuesday's action appeared to have been timed for the run-up to February 16 anniversary celebrations of Kim Jong-il's birthday, as well as to achieved maximum international attention.

Significantly, the test comes at a time of political transition in China, Japan and South Korea, and as Obama begins his second term. He will likely have to tweak his State of the Union address due to be given on Tuesday.

Japanese Prime Minister Shinzo Abe is bedding down a new government and South Korea's new president, Park Geun-hye, prepares to take office on February 25.

China too is in the midst of a once-in-a-decade leadership transition to Xi Jinping, who takes office in March. Both Abe and Xi are staunch nationalists.

The longer-term game plan from Pyongyang may be to restart talks aimed at winning food and financial aid. China urged it to return to the stalled "six-party" talks on its nuclear program, hosted by China and including the two Koreas, the United States, Japan and Russia.

Its puny economy and small diplomatic reach mean the North struggles to win attention on the global stage - other than through nuclear tests and attacks on South Korea, last made in 2010.

"Now the next step for North Korea will be to offer talks... - any form to start up discussion again to bring things to their advantage," said Jeung Young-tae, senior research fellow at the Korea Institute for National Unification in Seoul.

The European Union's foreign policy chief, Catherine Ashton, urged North Korea to refrain from further provocation.

EU member Denmark called on China to step up to the plate and use its influence to rein in its ally.

"This deserves only one thing and that is a one-sided condemnation," said Foreign Minister Villy Sovndal. "North Korea is likely the most horrible country on this planet."

(Additional reporting by Jack Kim, Christine Kim and Jumin Park in SEOUL; Linda Sieg in TOKYO; Louis Charbonneau at the UNITED NATIONS; Fredrik Dahl in VIENNA; Michael Martina and Chen Aizhu in BEIJING; Mette Fraende in COPENHAGEN; Adrian Croft, Charlie Dunmore and Justyna Pawlak in BRUSSELS; Editing by Nick Macfie)

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Baby on the Way for Jamie-Lynn Sigler and Cutter Dykstra

Mom & Babies
Celebrity Baby Blog

02/12/2013 at 12:30 PM ET

Jason Merritt/Getty

First an engagement and now a baby on the way — 2013 is shaping up to be an exciting year for Jamie-Lynn Sigler.

The Guys with Kids star, 31, is expecting a baby with her brand-new fiancé, minor league baseball player Cutter Dykstra, her rep confirms to PEOPLE.

“She couldn’t be more excited!” a source tells PEOPLE.

The actress, best known for her role on The Sopranos, recently took to Twitter to announce her engagement to Dykstra, 23.

There’s no wedding date set yet. But one thing’s for certain: “Jamie can’t wait to be a mom,” the source adds.

– Aili Nahas

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Pope shows lifetime jobs aren't always for life

The world seems surprised that an 85-year-old globe-trotting pope who just started tweeting wants to resign, but should it be? Maybe what should be surprising is that more leaders his age do not, considering the toll aging takes on bodies and minds amid a culture of constant communication and change.

There may be more behind the story of why Pope Benedict XVI decided to leave a job normally held for life. But the pontiff made it about age. He said the job called for "both strength of mind and body" and said his was deteriorating. He spoke of "today's world, subject to so many rapid changes," implying a difficulty keeping up despite his recent debut on Twitter.

"This seemed to me a very brave, courageous decision," especially because older people often don't recognize their own decline, said Dr. Seth Landefeld, an expert on aging and chairman of medicine at the University of Alabama at Birmingham.

Age has driven many leaders from jobs that used to be for life — Supreme Court justices, monarchs and other heads of state. As lifetimes expand, the woes of old age are catching up with more in seats of power. Some are choosing to step down rather than suffer long declines and disabilities as the pope's last predecessor did.

Since 1955, only one U.S. Supreme Court justice — Chief Justice William Rehnquist — has died in office. Twenty-one others chose to retire, the most recent being John Paul Stevens, who stepped down in 2010 at age 90.

When Thurgood Marshall stepped down in 1991 at the age of 82, citing health reasons, the Supreme Court justice's answer was blunt: "What's wrong with me? I'm old. I'm getting old and falling apart."

One in 5 U.S. senators is 70 or older, and some have retired rather than seek new terms, such as Hawaii's Daniel Akaka, who left office in January at age 88.

The Netherlands' Queen Beatrix, who just turned 75, recently said she will pass the crown to a son and put the country "in the hands of a new generation."

In Germany, where the pope was born, Chancellor Angela Merkel, who is 58, said the pope's decision that he was no longer fit for the job "earns my very highest respect."

"In our time of ever-lengthening life, many people will be able to understand how the pope as well has to deal with the burdens of aging," she told reporters in Berlin.

Experts on aging agreed.

"People's mental capacities in their 80s and 90s aren't what they were in their 40s and 50s. Their short-term memory is often not as good, their ability to think quickly on their feet, to execute decisions is often not as good," Landefeld said. Change is tougher to handle with age, and leaders like popes and presidents face "extraordinary demands that would tax anybody's physical and mental stamina."

Dr. Barbara Messinger-Rapport, geriatrics chief at the Cleveland Clinic, noted that half of people 85 and older in developed countries have some dementia, usually Alzheimer's. Even without such a disease, "it takes longer to make decisions, it takes longer to learn new things," she said.

But that's far from universal, said Dr. Thomas Perls, an expert on aging at Boston University and director of the New England Centenarians Study.

"Usually a man who is entirely healthy in his early 80s has demonstrated his survival prowess" and can live much longer, he said. People of privilege have better odds because they have access to good food and health care, and tend to lead clean lives.

"Even in the 1500s and 1600s there were popes in their 80s. It's remarkable. That would be today's centenarians," Perls said.

Arizona Sen. John McCain turned 71 while running for president in 2007. Had he won, he would have been the oldest person elected to a first term as president. Ronald Reagan was days away from turning 70 when he started his first term as president in 1981; he won re-election in 1984. Vice President Joe Biden just turned 70.

In the U.S. Senate, where seniority is rewarded and revered, South Carolina's Strom Thurmond didn't retire until age 100 in 2002. Sen. Robert Byrd of West Virginia was the longest-serving senator when he died in office at 92 in 2010.

Now the oldest U.S. senator is 89-year-old Frank Lautenberg of New Jersey. The oldest congressman is Ralph Hall of Texas who turns 90 in May.

The legendary Alan Greenspan was about to turn 80 when he retired as chairman of the Federal Reserve in 2006; he still works as a consultant.

Elsewhere around the world, Cuba's Fidel Castro — one of the world's longest serving heads of state — stepped down in 2006 at age 79 due to an intestinal illness that nearly killed him, handing power to his younger brother Raul. But the island is an example of aged leaders pushing on well into their dotage. Raul Castro now is 81 and his two top lieutenants are also octogenarians. Later this month, he is expected to be named to a new, five-year term as president.

Other leaders who are still working:

—England's Queen Elizabeth, 86.

—Abdullah bin Abd al-Aziz al-Saud, king of Saudi Arabia, 88.

—Sabah al-Ahmad al-Jaber al-Sabah, emir of Kuwait, 83.

—Ruth Bader Ginsburg, U.S. Supreme Court associate justice, 79.

__

Associated Press writers Paul Haven in Havana, Cuba; David Rising in Berlin; Seth Borenstein, Mark Sherman and Matt Yancey in Washington, and researcher Judy Ausuebel in New York contributed to this report.

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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Wall Street pauses after gains, awaits Obama address

NEW YORK (Reuters) - Stocks were little changed on Tuesday, with the S&P 500 holding near multi-year highs ahead of President Barack Obama's State of the Union address.

The economy will be a major topic of Obama's speech before a joint session of Congress set for 9 p.m. (0200 GMT Wednesday). Investors will listen for any clues on a deal with Republicans to avert automatic spending cuts due to take effect March 1.

The S&P 500 has risen in the past six weeks and is up 6.5 percent so far this year. But gains have been harder to come by since the benchmark S&P index hit a five-year high on February 1. The market has to consolidate strong gains at the year's start while investors search for reasons to drive stocks higher.

"The market itself at this point has got to digest this six-plus percentage point move ... we are due for that pause," said Drew Nordlicht, managing director at HighTower Advisors in San Diego.

Investors are "looking for more data at this point going forward to support the thesis that corporate profits will continue to grow and the economy has turned the corner."

The White House has signaled Obama in his speech will urge U.S. investment in infrastructure, manufacturing, clean energy and education. He is also expected to call for comprehensive trade talks with the European Union.

With earnings season moving to its latter stages, of the 353 companies in the S&P 500 that have reported earnings, 70.3 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters according to Thomson Reuters data through Tuesday morning.

Fourth-quarter earnings for S&P 500 companies are estimated to have risen 5.3 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

The Dow Jones industrial average <.dji> gained 27.65 points, or 0.20 percent, to 13,998.89. The Standard & Poor's 500 Index <.spx> added 1.03 points, or 0.07 percent, to 1,518.04. The Nasdaq Composite Index <.ixic> dipped 1.60 points, or 0.05 percent, to 3,190.41.

Coca-Cola Co shares fell 1.9 percent to $37.88 and were the biggest drag on the Dow after the world's largest soft drink maker reported quarterly revenue slightly below analysts' estimates, hurt by a weaker-than-expected performance in Europe.

Housing shares climbed, led by a 12.9 percent jump in Masco Corp to $20.09 after the home improvement product maker posted fourth-quarter earnings and said it expects new home construction to show strong growth in 2013. The PHLX housing sector index <.hgx> gained 2.7 percent.

Avon Products shares surged 16.7 percent to $20.16 after the beauty products company reported a better-than-expected quarterly profit.

Goodyear Tire & Rubber shares lost 3.1 percent to $13.48 after it posted a stronger-than-expected quarterly profit but cut its 2013 forecast due to weakness in the European automotive market.

Michael Kors Holdings shares jumped 10.9 percent to $63.24 after the fashion company handily beat Wall Street's estimates and raised its full-year outlook.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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Pope's sudden resignation sends shockwaves through Church

VATICAN CITY (Reuters) - Pope Benedict said in a historic announcement he no longer had the mental and physical strength to run the Roman Catholic Church and would become the first pontiff in more than 700 years to resign, leaving his inner circle "incredulous".

Church officials tried to relay a climate of calm confidence in the running of a 2,000-year-old institution but the decision could lead to one of the most uncertain and unstable periods in centuries for a Church besieged by scandal and defections.

The Church has been rocked during Benedict's nearly eight-year papacy by child sexual abuse crises and Muslim anger after the pope compared Islam to violence. Jews were upset over rehabilitation of a Holocaust denier and there was scandal over the leaking of the pope's private papers by his personal butler.

In the announcement read to cardinals in Latin, the German-born pope, 85, said: "Well aware of the seriousness of this act, with full freedom I declare that I renounce the ministry of Bishop of Rome, Successor of St Peter ...

"As from 28 February 2013, at 20:00 hours (2 p.m. ET) the See of Rome, the See of St. Peter will be vacant and a conclave to elect the new Supreme Pontiff will have to be convoked by those whose competence it is."

The pope, known for his conservative doctrine, did not intend to influence the decision of the cardinals who will enter a secret conclave to elect a successor, Vatican spokesman Father Lombardi Federico said.

Benedict stepped up the Church's opposition to gay marriage, underscored the Church's resistance to a female priesthood and to embryonic stem cell research.

A new leader of the world's 1.2 billion Roman Catholics could be elected as soon as Palm Sunday, on March 24 and be ready to take over by Easter a week later, he said.

EX-POPE AND REIGNING POPE

Lombardi said the pope did not fear a possible "schism" but several popes in the past, including Benedict's predecessor John Paul, refrained from stepping down precisely because of the confusion and division that could be caused by having an "ex-pope" and a reigning pope living at the same time.

This could create a particularly difficult problem if the next pope is a progressive who influences such teachings as the ban on women priests and artificial birth control and its insistence on a celibate priesthood.

"This is disconcerting, he is leaving his flock," said Alessandra Mussolini, a parliamentarian who is granddaughter of Italy's wartime dictator.

"The pope is not any man. He is the vicar of Christ. He should stay on to the end, go ahead and bear his cross to the end. This is a huge sign of world destabilization that will weaken the Church."

The pope's elder brother Georg Ratzinger, a frail 89-year-old priest who shares the pope's passion for music, told reporters in the Bavarian town of Regensburg where he once conducted the cathedral choir that he had been "very surprised" to learn of his brother's resignation.

"He alone can evaluate his physical and emotional strength," said Ratzinger.

Lombardi said Benedict would first go to the papal summer residence south of Rome and then move into a cloistered convent inside the Vatican walls. It was not clear if Benedict would have a public life.

The last Pope to resign willingly was Celestine V in 1294 after reigning for only five months, his resignation was known as "the great refusal" and was condemned by the poet Dante in the "Divine Comedy". Gregory XII reluctantly abdicated in 1415 to end a dispute with a rival claimant to the papacy.

NO SPECIFIC ILLNESS, NO DEPRESSION

Lombardi said Benedict's decision showed "great courage". He ruled out any specific illness or depression and said the decision was made in the last few months "without outside pressure".

While the pope had slowed down recently - he started using a cane and a wheeled platform to take him up the long aisle in St Peter's Square - he had given no hint recently that he was mulling such a dramatic decision.

"I am really surprised," said Ricardo Rodriguez, a Portuguese tourist in St Peter's Square. "I hope the next pope can be better than this one doing the best for the world and Catholics," he said.

Elected in 2005 to succeed the enormously popular John Paul, Benedict never appeared to feel comfortable in a job he said he never wanted. He had wanted to retire to his native Germany to pursue his theological writings, something which he will now do from a convent inside the Vatican.

The resignation means that cardinals from around the world will begin arriving in Rome in March and after preliminary meetings, lock themselves in a secret conclave.

There has been growing pressure on the Church for the cardinals to shun European contenders and choose a pope from the developing world in order to better reflect parts of the globe where most Catholics live and where the Church is growing.

"MIND AND BODY"

The pope told the cardinals that in order to govern "...both strength of mind and body are necessary, strength which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfill the ministry entrusted to me."

He referred to "today's world, subject to so many rapid changes and shaken by questions of deep relevance for the life of faith".

Before he was elected pope, the former Cardinal Joseph Ratzinger, was known by such critical epithets as "God's rottweiler" because of his stern stand on theological issues.

After a few months, he showed his mild side but he never drew the kind of adulation that had marked the 27-year papacy of his predecessor John Paul.

The Archbishop of Canterbury, leader of the worldwide Anglican communion at odds with the Vatican over women priests, said he had learned of the pope's decision with a heavy heart but complete understanding.

German Chancellor Angela Merkel said the pope's decision must be respected if he feels he is too weak to carry out his duties. British Prime Minister David Cameron said: "He will be missed as a spiritual leader to millions."

Elected to the papacy on April 19, 2005 when he was 78 - 20 years older than John Paul was when he was elected - Benedict ruled over a slower-paced, more cerebral and less impulsive Vatican.

CHEERS AND SCANDAL

But while conservatives cheered him for trying to reaffirm traditional Catholic identity, his critics accused him of turning back the clock on reforms by nearly half a century and hurting dialogue with Muslims, Jews and other Christians.

Under the German's meek demeanor lay a steely intellect ready to dissect theological works for their dogmatic purity and debate fiercely against dissenters.

After appearing uncomfortable in the limelight at the start, he began feeling at home with his new job and showed that he intended to be pope in his way.

Despite great reverence for his charismatic, globe-trotting predecessor -- whom he put on the fast track to sainthood and whom he beatified in 2011 -- aides said he was determined not to change his quiet manner to imitate John Paul's style.

A quiet, professorial type who relaxed by playing the piano, he managed to show the world the gentle side of the man who was the Vatican's chief doctrinal enforcer for nearly a quarter of a century.

The first German pope for some 1,000 years and the second non-Italian in a row, he travelled regularly, making about four foreign trips a year, but never managed to draw the oceanic crowds of his predecessor.

The child abuse scandals hounded most of his papacy. He ordered an official inquiry into abuse in Ireland, which led to the resignation of several bishops.

Scandal from a source much closer to home hit in 2012 when the pontiff's butler, responsible for dressing him and bringing him meals, was found to be the source of leaked documents alleging corruption in the Vatican's business dealings, causing an international furor.

Benedict confronted his own country's past when he visited the Nazi death camp at Auschwitz.

Calling himself "a son of Germany", he prayed and asked why God was silent when 1.5 million victims, most of them Jews, died there during World War Two.

Ratzinger served in the Hitler Youth during World War Two when membership was compulsory. He was never a member of the Nazi party and his family opposed Adolf Hitler's regime.

(Philip Pullella; editing by Peter Millership, Ralph Boulton, Janet McBride)

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