European stocks may drift lower at open on Monday after China today reported 49 new coronavirus cases, raising fears of a second wave of infections.
Out of these, 39 are reported in the capital Beijing and three cases found in neighboring Hebei province, the National Health Commission said.
Meanwhile, Chinese economic data for May missed expectations, adding to growth worries.
China's industrial production grew 4.4 percent on a yearly basis in May, faster than the 3.9 percent increase logged in April, data from the National Bureau of Statistics showed. Economists had forecast a 5 percent rise.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.