Investing.com - European stocks traded mostly lower Monday as euro zone economic growth worries weighed on equities.
Near the close of European trade, the EURO STOXX 50 traded flat at 0.00%, France's CAC 40 fell 0.47%, while Germany’s DAX gave back 0.05%. Meanwhile, in the U.K. the FTSE 100 traded down 0.07%.
The negative equity sentiment was sparked as the Bank of New York Fed President William Dudley issued cautious words about U.S. economic growth.
Dudley stated, “signs that the economy is improving, do not dispel meaningful risks to growth including higher gasoline prices, fiscal cutbacks and a weak housing market.”
Helping to depress euro zone stocks, Italian industrial orders plunged 7.4% last month.
In addition, expectations for euro zone manufacturing and service activity to remain below the growth threshold for the second month when data is released later in the week, weighed on equities.
Stocks came under pressure earlier, amid fresh concerns over Portugal’s debt load after the chief executive of investment fund Pimco said the country will need a second bailout.
A separate report showed that the euro zone’s current account surplus increased to EUR4.5 billion in January, the highest level since March 2007, from an upwardly revised surplus of EUR3.4 billion in December.
Swiss Life, Standard Life and DSV all traded lower as analysts downgraded the insurers.
Misys rallied 8.1% after it agreed to a USD2.1 billion buyout from Vista Equity Partners.
National Bank of Greece soared 6.2% as default insurance dropped to the lowest level since August, 2011.
In U.S. midsession trade, stocks are higher with the Dow up 0.20, the S&P 500 higher by 0.52% and the Nasdaq Composite soaring 0.82%.
Investors are awaiting German producer price numbers. Australian central bank meeting minutes, and U.S. building permit numbers as well as a talk by Fed Chief Ben Bernanke on Tuesday.
Near the close of European trade, the EURO STOXX 50 traded flat at 0.00%, France's CAC 40 fell 0.47%, while Germany’s DAX gave back 0.05%. Meanwhile, in the U.K. the FTSE 100 traded down 0.07%.
The negative equity sentiment was sparked as the Bank of New York Fed President William Dudley issued cautious words about U.S. economic growth.
Dudley stated, “signs that the economy is improving, do not dispel meaningful risks to growth including higher gasoline prices, fiscal cutbacks and a weak housing market.”
Helping to depress euro zone stocks, Italian industrial orders plunged 7.4% last month.
In addition, expectations for euro zone manufacturing and service activity to remain below the growth threshold for the second month when data is released later in the week, weighed on equities.
Stocks came under pressure earlier, amid fresh concerns over Portugal’s debt load after the chief executive of investment fund Pimco said the country will need a second bailout.
A separate report showed that the euro zone’s current account surplus increased to EUR4.5 billion in January, the highest level since March 2007, from an upwardly revised surplus of EUR3.4 billion in December.
Swiss Life, Standard Life and DSV all traded lower as analysts downgraded the insurers.
Misys rallied 8.1% after it agreed to a USD2.1 billion buyout from Vista Equity Partners.
National Bank of Greece soared 6.2% as default insurance dropped to the lowest level since August, 2011.
In U.S. midsession trade, stocks are higher with the Dow up 0.20, the S&P 500 higher by 0.52% and the Nasdaq Composite soaring 0.82%.
Investors are awaiting German producer price numbers. Australian central bank meeting minutes, and U.S. building permit numbers as well as a talk by Fed Chief Ben Bernanke on Tuesday.