The first report on the manufacturing sector for the month of September

European equity markets started the week on a weak footing but M&A talk in the brewery sector helped erasing early losses. US equities trade marginally lower. US eco figures were mixed but ahead of the Fed cautiousness is warranted.

The OECD slashed its growth forecasts for major developed economies, expecting the euro zone to grow only 0.8% this year, while it sees the US economy growing only 2.1%. The OECD urged more aggressive stimulus from the ECB and called on the central bank to launch a programme of large scale asset purchases, including government bonds.

French President Hollande called for united international action to tackle the threat from Islamic State militants at a meeting in Paris where 30 countries agreed to provide Bagdad with appropriate military aid to combat insurgents of IS. ,

The first report on the manufacturing sector for the month of September, the empire state manufacturing, painted a picture of vibrant output, bolstered by strengthening in new orders and shipment. US industrial production for August on the other hand, unexpectedly declined for the first time in seven months as automobile making cooled.

Alibaba plans to increase the size of its U.S. initial public offering because of "overwhelming" investor demand, people familiar with the deal said. Alibaba could set a new record for the world's biggest IPO if underwriters exercise an option to sell additional shares to meet demand, pushing it as high as $24.3 billion and overtaking Agricultural Bank of China $22.1 billion listing in 2010.