The European shares was seen turning lower from its early gains on the first day of the trading week, ahead of the Italian bond auction and Greece GDP report for the second quarter.
The European Euro Stoxx 50 edged down 0.33% lower to 2,814.51 as of 8:24am GMT, while the German’s DAX index declined 0.44% lower to 8,302.66 at the same time. The French CAC 40 fell 0.23% lower at 4,067.56, while the UK FTSE 100 dropped 0.17% to 6,572.81.
Greece is expected to release its gross domestic product (GDP) report for the second quarter, which is expected to show a fall in the country’s economy by 4.8%.
While in Italy, the Italian government is expected to hold the auctions of Treasury bonds maturing in 12 months with its highest target of €7.5 billion.
Telekom Austria edged down by 2% in its second quarter report, resulting to 1.04 billion euros, according to reports.
While German industrial and engineering company Bilfinger, operating profit dropped to 96 million euros between the month of April and June due to the struggling economy, while analysts forecasted a 94.3 million profit.
Meanwhile, stocks in Asia were seen in green on Monday, following the release of the below-forecasted data for the second quarter.
The data showed that the Japanese economy grew by 0.6% in the second quarter , below the expected growth of 0.9%, after the country’s economy grew in the first three months of the year.
Hong Kong’s Hang Seng rose by 2.17% to 22,281.00 points at the time of writing, while the Chinese Shanghai Composite jumped 2.39% higher to close at 2,101.28 points.
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