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Market News


European Markets

Opening calls are indicating a lower open this morning.

Asian Markets

Indices in Asia are trading lower.

US Markets

U.S. stocks started the week with a steep sell-off Monday, following last week’ stellar gains, as worries about Europe’ debt crisis dominated.

“There’ a lot of concern about how much time it will take for Europe to get its collective act together,” said Tom Schrader, managing director at Stifel Nicolaus.

Mixed earnings reports from Citigroup and Wells Fargo and a disappointing report on regional manufacturing also dampened investor sentiment.

Events today

Protesters in London will camp for a fourth day outside St Paul’ Cathedral in the city’ financial district on Monday, while in Greece a 48-hour strike by ferry workers will enter its second day.

French food producer Danone said it would deliver strong growth this year, despite a slowdown in sales growth in the third quarter. Danone, which produces Evian water and Actimel yogurt, achieved growth of 5.9 percent in the third quarter, slightly higher than analysts expectations of 5.6 percent. Sales reached 4.8 billion euros ($6.61 billion) rising 10.5 percent, in line with analysts expectations.

Luxury firm LVMH reported third quarter sales figures before the start of trade on Tuesday, showing a 15 percent rise in like-for-like sales to 16.3 billion euros ($22.46 billion).

Christian Dior will also release third quarter sales data on Tuesday.

Restaurant and hospitality firm Whitbread reported better-than-expected pretax profit for the first half of 2011 and increased its interim dividend by 50 percent on Tuesday. Pretax profit rose by 15.2 percent to £174.9 million ($276 million) to September 1.

Mining firm Xstrata is also set to announce third quarter trade figures on Tuesday.