The first trading day of thetrading week opens with news that manufacturing inthe Euro zone was the lowest inthe three months ending on September 30 since the Great Recession, as factories were hit by falling demand despite lower prices, suggesting another recession may be on the way.
In overnight trading, the European stock markets rallied modestly on news that Euro zone leaders meeting in Brussels agreed late Monday to disburse fresh bailout funds to cash-starved Greece.
Investors seemed uncertain the major indexes would rebound after the extremely volatile tradingin recent sessions, mostly related to severe sovereign debt worries inthe Euro zone.
In overnight trading, the European markets were quieter and are awaiting the results of yet another key meeting of Euro zone leaders in Brussels Monday, to decide when and how to disburse fresh bailout funds to cash-starved Greece.
The outlook for the Eastern European economy was questioned after the International Monetary Fund this week reduced its growth assumptions for the region as the crisis inthe euro zone home to some of its biggest trading partners continues to drag on.