Opening calls are indicating a lower open this morning.
Asian stocks fell, with a regional benchmark index dropping from a three-month high, ahead of a European summit on the region’s debt crisis and after the U.S. economy expanded less than forecast, hurting the earnings outlook for exporters.
The stock market is off to a good start this year, but next week brings a host of potential pitfalls that could slow the recent momentum.
Stocks ended last week on a sour note after the government said the U.S. economy expanded at a slower-than-expected pace in the fourth quarter, even as growth improved from the previous quarter.
Italy and France will both hold bond auctions on Monday just days after credit rating agency Fitch downgraded Italy’ credit rating from A-plus to A-minus. The auction of long term Italian bonds is due to take place at 10:00am London time. France will hold its weekly t-bill tender at 1:30pm London time.
Low cost airline Ryanair increased its full year profit forecast by 9 percent on Monday after reporting revenue growth of 13 percent in the last quarter.