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Market Update: European Stocks Set to Start Week on Negative Note
European stock futures headed for a negative start on Monday, as investors digested weaker-than-forecast German factory orders for April and Chinese trade data for May. Demand for German manufactured goods dropped 0.2% in April, missing market expectations of a 1% growth; while exports and imports from the world’s second-largest economy rose less than forecast in May. Elsewhere, G7 finance ministers on Saturday agreed the landmark deal to reform the global tax system, saying they would back a minimum global corporation tax rate of at least 15%. Traders around the world now await the G7 leaders’ summit starting on Friday and the US CPI report scheduled to be released Thursday. [/s2If]
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