European stocks are sinking after the long weekend

After a three day weekend in Germany and the UK, European markets started the week on a bad foot.

Here’s the scorecard:

  • Germany’s DAX: -0.75%
  • The UK’s FTSE 100: -0.61%
  • France’s CAC 40: -0.60%
  • Italy’s FTSE MIB: -0.08%
  • Spain’s Ibex: -1.02%

Asian markets closed higher. The Shanghai Composite Index ended up 2.02%, followed by the Hang Seng, which rose by 0.96%. In Japan, the Nikkei rose 0.12%.

US futures are down too. Ahead of the open, the S&P 500 is down 8 points, while the Dow is 67 points lower.

It’s an extremely quit day for European data, with nothing of note coming. There’s a bundle of data points coming from the US later, including house prices at 2 p.m. London time (9 a.m. ET) and Markit’s PMI at 2.45 p.m. (9:45 a.m. ET).

We’ll be looking out for any developments on Greece’s bailout negotiations, which will be going on throughout the week.

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