The UK market is marginally lower in afternoon trading Monday, amid concerns whether the European Central Bank will adopt bold anti-crisis measures. The Asian stocks ended mostly lower, after the Japanese economy slowed more than expected in the second quarter.
Japan's gross domestic product added just 0.3 percent in the second quarter compared to the previous three months, the Cabinet Office said in a preliminary reading, suggesting that the recovery from last year's earthquake and tsunami remains stuck in neutral. The headline figure missed forecasts for an increase of 0.6 percent, following the 1.6 percent gain in the first quarter.
Italy raised 8 billion euros through a 12-month bill auction, although the cost of borrowing was higher than at an earlier auction. Additionally, the Greek economy contracted less than expected in the second quarter.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.44 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.10 percent.
The FTSE 100 index is losing 0.07 percent.
Petrofac is losing 5.4 percent. The firm said its year-on-year growth in net profit in the second half would be lower than in the first half of the year.
Standard Chartered is gaining 1.5 percent amid talks of a settlement with New York regulators on the Iran transactions.
Vedanta is losing 1.9 percent. Rio into and BHP Billiton are moderately lower.
Elsewhere in Europe, the German DAX is adding 0.25 percent and the French CAC 40 is rising 0.28 percent. Switzerland's SMI is sliding 0.07 percent.
Across Asia/Pacific, markets had a mixed outing. China's Shanghai Composite Index retreated 1.5 percent, Hong Kong's Hang Seng slid 0.3 percent and Japan's Nikkei 225 slipped 0.07 percent. However, Australia's All Ordinaries added around 0.2 percent.
In the U.S., futures point to a lower open on wall street. In the previous session, stocks shrugged off morning weakness to finish slightly higher, as weak Chinese trade as well as bank-lending data spurred fresh hopes of more central bank stimulus. The Dow rose 0.3 percent, the tech-heavy Nasdaq gained marginally and the S&P 500 ended 0.2 percent up.
In the commodity space, crude for September delivery is adding $0.66 to $93.53 per barrel and December gold is rising $2.7 to $1625.5 a troy ounce.
by RTT Staff Writer
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