Investing.com – European stock markets declined on Monday, amid mounting worries over the U.S. economic outlook, while shares in airliners performed poorly after an industry group cut the full-year profit forecast for the sector.
During European morning trade, the EURO STOXX 50 fell 0.45%, France’s CAC 40 slumped 0.4%, while Germany's DAX 30 shed 0.15%
Official data released Friday showed that U.S. nonfarm payrolls rose by 54K in May, the smallest jobs gain in nearly a year and significantly below expectations for an increase of 169K. The unemployment rate unexpectedly rose to 9.1% from 9.0% in April, the highest level in five months.
Meanwhile, shares in airliners performed poorly after the International Air Transport Association cut its 2011 industry profit forecast by 54%, due to higher oil prices, political protests in the Middle East and the Japan earthquake.
Europe’s largest airliner Deutsche Lufthansa saw shares drop 1.4%, shares in Air France-KLM slumped 1.5%, while British Airways declined 1.75%.
Shares in lenders were also lower, giving back most of the gains made in the previous session amid optimism over a new bailout deal for Greece.
Europe’s largest financial service provider BNP Paribas saw shares slide 1.5%, Spanish banking giant Banco Santander dropped 1.45%, while Deutsche Bank was down 1.6%.
On the upside, German pharmaceutical firm Bayer saw shares jump 2% after a successful experimental drug trial of its prostate cancer drug, Alpharadin.
In London, the FTSE 100 was down 0.2% as shares in travel companies retreated after Goldman Sachs cut its rating on the U.K. travel and leisure sector to underweight from overweight, citing “a material slowdown in the pace of global growth.”
Carnival, the world’s largest cruise-line operator saw shares drop 1.5%, Thomas Cook Group slumped 2%, while TUI Travel declined 1.1%.
Among climbers, recently-listed commodities trader Glencore International rose 2.1% after Deutsche Bank recommended buying the stock, calling it “under-valued and misunderstood.”
The outlook for U.S. equity markets, meanwhile, was modestly lower. The Dow Jones Industrial Average futures pointed to a decline of 0.25%, S&P 500 futures indicated a drop of 0.15%, while the Nasdaq 100 futures eased down 0.1%.
Later in the day, Dallas Federal Reserve President Richard Fisher and U.S. Treasury Secretary Tim Geithner were scheduled to speak. Their comments would be closely watched for their views on the U.S. economic recovery.
During European morning trade, the EURO STOXX 50 fell 0.45%, France’s CAC 40 slumped 0.4%, while Germany's DAX 30 shed 0.15%
Official data released Friday showed that U.S. nonfarm payrolls rose by 54K in May, the smallest jobs gain in nearly a year and significantly below expectations for an increase of 169K. The unemployment rate unexpectedly rose to 9.1% from 9.0% in April, the highest level in five months.
Meanwhile, shares in airliners performed poorly after the International Air Transport Association cut its 2011 industry profit forecast by 54%, due to higher oil prices, political protests in the Middle East and the Japan earthquake.
Europe’s largest airliner Deutsche Lufthansa saw shares drop 1.4%, shares in Air France-KLM slumped 1.5%, while British Airways declined 1.75%.
Shares in lenders were also lower, giving back most of the gains made in the previous session amid optimism over a new bailout deal for Greece.
Europe’s largest financial service provider BNP Paribas saw shares slide 1.5%, Spanish banking giant Banco Santander dropped 1.45%, while Deutsche Bank was down 1.6%.
On the upside, German pharmaceutical firm Bayer saw shares jump 2% after a successful experimental drug trial of its prostate cancer drug, Alpharadin.
In London, the FTSE 100 was down 0.2% as shares in travel companies retreated after Goldman Sachs cut its rating on the U.K. travel and leisure sector to underweight from overweight, citing “a material slowdown in the pace of global growth.”
Carnival, the world’s largest cruise-line operator saw shares drop 1.5%, Thomas Cook Group slumped 2%, while TUI Travel declined 1.1%.
Among climbers, recently-listed commodities trader Glencore International rose 2.1% after Deutsche Bank recommended buying the stock, calling it “under-valued and misunderstood.”
The outlook for U.S. equity markets, meanwhile, was modestly lower. The Dow Jones Industrial Average futures pointed to a decline of 0.25%, S&P 500 futures indicated a drop of 0.15%, while the Nasdaq 100 futures eased down 0.1%.
Later in the day, Dallas Federal Reserve President Richard Fisher and U.S. Treasury Secretary Tim Geithner were scheduled to speak. Their comments would be closely watched for their views on the U.S. economic recovery.