Investing.com – European stock markets edged lower on Monday, as markets awaited further developments in regards to Greece’s sovereign debt crisis, while U.S. futures indices pointed to a lower open on Wall Street.
During European morning trade, the EURO STOXX 50 shed 0.2%, France’s CAC 40 slipped 0.15%, while Germany's DAX 30 edged 0.2% lower.
Greece’s parliament was expected to start a three-day debate later Monday, ahead of a vote on a EUR28.4 billion austerity package that must be approved in order to receive a second tranche of bailout loans needed to avert a sovereign debt default.
Shares in the financial sector came under further pressure after a weekend agreement by the Basel Committee on Banking Supervision on the extra capital buffers that must be held by large global lenders deemed too big to fail.
Europe’s largest retail lender BNP Paribas dropped 1.3%, Deutsche Bank declined 1.1%, while U.K. lenders Barclays and HSBC Holdings fell 1% and 1.2% respectively.
However, shares in Italian lenders were up, recouping some of Friday’s losses, when trading was briefly suspended following steep declines. Unicredit gained 1.25%, while Intesa Sanpaolo jumped 1.9%.
Meanwhile, shares in the world’s biggest paint maker Azko Nobel plunged 7.5% after it warned that its second quarter results were likely to come in below market expectations, citing tough trading conditions and higher raw material prices.
The downbeat assessment weighed on other shares in the sector, with German chemical producer BASF slumping 1.05% and Bayer shedding 0.9%.
In London, the FTSE 100 shed 0.1% as shares in pharmaceutical firm AstraZaneca performed poorly after an update on its diabetes drug.
The stock was down 1.5% after the company said patients receiving its Dapagliflozin diabetes drug saw reductions in baseline blood sugar levels, but there were also higher incidences of bladder and breast cancer in patients on the drug.
Shares in raw material producers retreated as a broadly stronger U.S. dollar weighed on metal and oil prices. Oil major British Petroleum saw shares slump 1%, while copper producer Xstrata sank 1.3%.
The outlook for U.S. equity markets was modestly downbeat. The Dow Jones Industrial Average futures pointed to a loss of 0.12%, S&P 500 futures shed 0.1%, while the Nasdaq 100 futures eased down 0.08%.
Later in the day, the U.S. was to publish government data on personal income and expenditure as well as a consumer price index.
During European morning trade, the EURO STOXX 50 shed 0.2%, France’s CAC 40 slipped 0.15%, while Germany's DAX 30 edged 0.2% lower.
Greece’s parliament was expected to start a three-day debate later Monday, ahead of a vote on a EUR28.4 billion austerity package that must be approved in order to receive a second tranche of bailout loans needed to avert a sovereign debt default.
Shares in the financial sector came under further pressure after a weekend agreement by the Basel Committee on Banking Supervision on the extra capital buffers that must be held by large global lenders deemed too big to fail.
Europe’s largest retail lender BNP Paribas dropped 1.3%, Deutsche Bank declined 1.1%, while U.K. lenders Barclays and HSBC Holdings fell 1% and 1.2% respectively.
However, shares in Italian lenders were up, recouping some of Friday’s losses, when trading was briefly suspended following steep declines. Unicredit gained 1.25%, while Intesa Sanpaolo jumped 1.9%.
Meanwhile, shares in the world’s biggest paint maker Azko Nobel plunged 7.5% after it warned that its second quarter results were likely to come in below market expectations, citing tough trading conditions and higher raw material prices.
The downbeat assessment weighed on other shares in the sector, with German chemical producer BASF slumping 1.05% and Bayer shedding 0.9%.
In London, the FTSE 100 shed 0.1% as shares in pharmaceutical firm AstraZaneca performed poorly after an update on its diabetes drug.
The stock was down 1.5% after the company said patients receiving its Dapagliflozin diabetes drug saw reductions in baseline blood sugar levels, but there were also higher incidences of bladder and breast cancer in patients on the drug.
Shares in raw material producers retreated as a broadly stronger U.S. dollar weighed on metal and oil prices. Oil major British Petroleum saw shares slump 1%, while copper producer Xstrata sank 1.3%.
The outlook for U.S. equity markets was modestly downbeat. The Dow Jones Industrial Average futures pointed to a loss of 0.12%, S&P 500 futures shed 0.1%, while the Nasdaq 100 futures eased down 0.08%.
Later in the day, the U.S. was to publish government data on personal income and expenditure as well as a consumer price index.