European equities started the week lower after mixed data from Germany and France. Earlier today the German industrial production output rose 0.3% m/m in May, easing investors worries of a slowdown in Europe’s largest economy. On an annualized basis, the German industrial production came in at -3.7% versus -1.1% expected and -1.8% booked in April. Germany May trade balance came in at €20.6 billion above analysts’ forecasts of €17.0 billion. Germany Imports, Month over Month, came in at -0.5%, missing forecasts of -0.2% in May. Germany Exports, Month over Month, came in at 1.1%, beating analysts’ expectations of 0% in May. The EU Sentix Investor Confidence released at -5.8, below economists’ forecasts of 0.1 for July. The figure is a result of all the dismal data reported the previous weeks from EU zone. The -5.8 is the worst level since November 2014.
As of writing the DAX 30 is 0.13 percent lower at 12,551 the CAC 40 in Paris is 0.12 percent lower at 5,587, in London the FTSE 100 adds 0.02 percent at 7,554. In Istanbul, Turkey the BIST 100 index is down 1% at 98,602.
In Wall Street, the futures trading lower, the Dow futures are 0.23 percent lower at 26,823 while the S&P futures are 0.19 percent lower, signaling a slightly negative start for U.S. equities.Don’t miss a beat! Follow us on Twitter.