European Shares To Open Lower On Weak China Data

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(RTTNews) - European stocks may drift lower on Monday as weak Chinese data revived worries about slowing growth in the world's second-largest economy.

Business activity in the country deteriorated further in July, with manufacturing activity contracting for a fourth straight month and services sector showing weakness.

Asian markets, however, traded mostly higher after China's State Council outlined more measures to expand domestic consumption.

Japan's Nikkei index was up about 1 percent and the yen declined after the Bank of Japan announced a special open market operation to help stem a spike in yields.

The U.S. dollar headed for a monthly loss amid rising hopes of a soft landing for the U.S. economy.

The inflation outlook is "quite positive", and the base case scenario seems to be that we would avoid a recession, Federal Reserve Bank of Minneapolis President Neel Kashkari said on CBS's Face the Nation.

Gold and oil prices were seeing modest losses ahead of a busy week on the economic front, with global PMI data and the U.S. jobs report for July in focus.

The flash estimate for July euro area inflation and the eurozone preliminary flash estimate for second-quarter gross domestic product will be out later in the day.

The Bank of England's interest-rate decision is due on Thursday, with a 25-bps rate hike expected.

U.S. stocks rose on Friday and ended the week with gains, as top tech firms reported encouraging earnings results and the Fed's favorite inflation gauge slowed to a two-year low in June, easing concerns about the outlook for interest rates.

The Dow edged up half a percent, the S&P 500 climbed 1 percent and the tech-heavy Nasdaq Composite rallied 1.9 percent.

European stocks ended Friday's session mostly higher after struggling for direction earlier in the day.

The pan European STOXX 600 slipped 0.2 percent. The German DAX edged up 0.4 percent, France's CAC 40 rose 0.2 percent and the U.K.'s FTSE 100 finished marginally higher.

Japanese Market Notably Lower

Reversing the gains in the previous session, the Japanese market is notably lower on Friday, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 40,700 level, with weakness in financial and technology stocks partially offset by gains in exporters and automaker stocks.

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Australian Market Notably Lower

The Australian stock market is trading notably lower on Friday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,700 level, with weakness across most sectors led by energy and technology stocks.

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Pound Slides Against Most Majors

The pound fell against its most major counterparts in the New York session on Thursday.

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Swiss Market Ends Moderately Lower

Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.

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European Stocks Close Mostly Weak As Investors React To Earnings

European markets closed mostly lower on Thursday as investors reacted to a slew of earnings announcements and digested the latest batch of economic data from the region, and also followed the developments on the trade front.

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U.S. Consumer Price Growth Matches Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.

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German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.

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U.S. Jobless Claims Inch Up Less Than Expected To 218,000

First-time claims for U.S. unemployment benefits edged slightly higher in the week ended July 26th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims crept up to 218,000, an increase of 1,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to rise to 224,000.

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EURUSD	1.14138	GBPUSD	1.31968	AUDUSD	0.64299
USDJPY	150.792	USDCAD	1.38543	USDCHF	0.81377

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European Shares To Open Lower On Weak China Data