- Slightly weaker than expected Eurozone money supply data
- Italian debt auction on tap
- Deposits at Greek Banks rose by 4 per cent in December
- Banks deposited 207.2bn euros at ECB overnight

FTSE-100: -0.05%
Dax-30: -0.04%
Cac-40: -0.07%
FTSE Mibtel 30: 0.49%
Ibex 35: 0.10%
Stoxx 600: -0.08%

The main European equity indices have started the day slightly lower despite the latest gains seen in equities on Wall Street and in Asia.

Of interest, inflows into equity funds - mostly into emerging markets admittedly - sustained a seventh consecutive rise last week ahead of bond oriented ones, although the rate of flows moderated, according to the latest data from EPFR.

That as investors analyse the just released Eurozone money supply data for any hints that financial conditions in the periphery are continuing to ease.

Out in the corporate patch, Monte dei Paschi di Siena, announced yesterday that it is looking for a 'white knight' investor to help revive its ailing fortunes.

French oil major Total´s Elgin gas field will not resume full output for months or even years, the company´s Chief Executive Christophe de Margerie said.

Italy will sell up to €3-4bn of new December 2014 short-term debt and €2-2.75bn of new five year debt later in the morning.

Back on the equity front, and from a sector stand-point, the worst performing industrial groups are: Travel (-0.71%), Chemicals (-0.54%) and Oil (-0.45%).

Eurozone money supply below forecasts


The growth rate of Eurozone money supply accelerated to 3.7% from 3.4% a year ago (Consensus: 3.8%).

ISAE´s Italian business confidence index for the month of January slipped to 84.6 from 85.7 a month before (Consensus: 86.1).

Other asset classes lower
The euro/dollar is now falling by 0.20% to the 1.3430 dollar mark.

Front month Brent crude futures are now lower by 0.310 dollars to the 112.93 dollar mark on the ICE.



AB

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