Analysis

Growth in Germany, Europe's biggest economy

  • European equities trade positive in this week's opening session with the French CAC outperforming (+0.5%). US stock markets opened near Friday's closing levels and fail to gain momentum.

  • British manufacturers' sentiment on business conditions soured in the three months to October a CBI survey found, in the latest sign of worries sparked by Brexit talks.

  • Trump's tax plan picked up momentum as White House budget director Mick Mulvaney said approving a bill by December is realistic. The GOP hasn't abandoned its goal of making the measure revenue neutral and can do so by boosting economic growth, Mitch McConnell said.

  • Turkish stocks, bonds and the lira fell after a weekend report in a local newspaper said six Turkish banks may face penalties resulting from a US investigation into their dealings with Iran, even after regulators denied the news and the publisher pulled the story.

  • Growth in Germany, Europe's biggest economy, likely held up at a high level in the third quarter, driven by superb industrial orders even as construction activity levelled off and private consumption dipped, the Bundesbank said in a monthly report.

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