The French market is lower on Monday, after China's industrial production rose less than expected, and investors paused to take some profit from recent gains. The Asian markets were mixed and the U.S. index futures point to a lower open before the retail sales data.
Data showed that China's industrial production rose less than expected, while retail sales growth was in line with expectations, offering very little conviction in the strength of the recovery underway in the world's second largest economy. The growth in the country's fixed asset investment also was weaker than expected.
Industrial production increased 9.3 percent year-on-year in April, faster than the 8.9 percent rise in the previous month. However, the output growth was below forecast of 9.4 percent growth.
The British economy will continue to expand throughout this year and growth is expected to pick up in 2014, the Confederation of British Industry said in a report. In its latest economic forecast, the CBI projects the gross domestic product to grow 1 percent in 2013, unchanged from its previous forecast. In 2014, growth is seen at 2 percent.
Eurozone finance ministers are meeting in Brussels later today to discuss review programs for Spain and Cyprus.
The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.72 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.62 percent.
The CAC 40 index is currently losing 0.4 percent.
Chipmaker STMicroelectronics is dropping 2.6 percent.
Lenders Societe Generale, Credit Agricole and BNP Paribas are falling between 1.9 percent and 1.4 percent.
Danone is moderately higher after announcing the acquisition of organic baby food firm Happy Family.
Carmaker Renault is climbing 2.8 percent.
Elsewhere in Europe, the German DAX is declining 0.7 percent and the UK's FTSE 100 is losing 0.3 percent. Switzerland's SMI is falling 0.8 percent.
Across Asia/Pacific, major markets ended mixed. Japan's Nikkei 225 climbed 1.2 percent after the Group of Seven finance officials on Saturday indicated their tolerance to the nation's stimulus measures. Australia's All Ordinaries ended higher by 0.1 percent.
On the downside, China's Shanghai Composite Index slid 0.2 percent and Hong Kong's Hang Seng retreated 1.4 percent.
In the U.S., futures point to a lower open on Wall Street. In the previous session, stocks posted modest gains to close at fresh record highs amid optimism that the economic recovery is gaining traction. The Dow edged up 0.2 percent, the tech-heavy Nasdaq advanced 0.8 percent and the S&P 500 gained 0.4 percent.
In the commodity space, crude for June delivery is falling $1.01 to $95.03 per barrel and June gold is losing $9.0 to $1427.6 a troy ounce.
For comments and feedback: editorial@rttnews.com