Mixed reports from China overnight have left traders perplexed; headline GDP figures exceeded expectations, but this was offset by the lower-than-expected industrial production and fixed asset investment numbers. The mining sector had a good run last week on the back of bargain hunting and broker upgrades, and after the Chinese numbers today it doesn’t know which way to turn .
Deutsche Bank’s quarterly loss is dragging the entire banking sector lower; the German bank revealed a drop in revenue and was hit by litigation costs topping €500,000 euros.
Royal Dutch Shell is in the red again after reporting a profit warning on Friday.
The US equity market is closed as it is Martin Luther King Day.