In Europe, stocks were declining while major companies reported its quarterly results as finance ministers and officials from the G20 gathered for a two-day meeting to discuss global issues. The meeting is to be held in Moscow.
The pan-European Euro Stoxx dropped 0.38% to 2,707.79, while the German DAX fell 0.43% to 8,301.39. The French CAC 40 declined 0.43% to 3,911.08, as the UK’s FTSE 100 lost 0.28% to 6,615.50.
The finance officials from G20 meeting up in Moscow later today for the two-day meeting and are going to discuss global issues , such as the increase of the youth unemployment and the slow growth of the economy .
According to reports, the Down Jones and S&P 500 reached its highest level by the market close after Morgan Stanley posted the better-than-expected results and the Federal Reserve Chairman Ben Bernanke said that the central bank would be reducing its bond-buying program if the economic conditions in the US showed further improvement and were stable.
In Spain, the trade balance data for the month of May is expected to show deficit of 200 million euros.
While in Italy the reported industrial orders increased by 3.2% in May month-to-month, as orders declined 1.1% year-on-year, according to the National Institute for Statistics (Istat).
Istat reported industry sales in Italy are likely to pick up by 0.1% in the month of May on a monthly basis.
In Germany, the Federal Statistical Office reported that the producer prices were recorded flat in June monthly, after declining 0.3% in May, while the prices increased 0.6% yearly.
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